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Subsequent Events | 6 Months Ended
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Jun. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | 13. Subsequent Events On August 8, 2025, the Company commenced a public offering (the “Offering”) of 5,617,648 shares of our Class A common stock and pre-funded warrants to purchase up to an aggregate of 264,706 shares of Class A common stock (the “Pre-Funded Warrants”). The Class A common stock and Pre-Funded Warrants were sold together with Class A common warrants to purchase up to an aggregate of 14,705,885 shares of Class A common stock (the “Common Warrants”). Each share of Class A common stock or Pre-Funded Warrant was sold together with two and one-half Common Warrants, each to purchase one share of our Class A common stock. The combined public Offering price was $0.85 per share of Class A common stock and related Common Warrants and $0.849 per Pre-Funded Warrant and related Common Warrants. Subject to certain limitations, the Pre-Funded Warrants are immediately exercisable and may be exercised at a nominal consideration of $0.001 per share of Class A common stock at any time until all of the Pre-Funded Warrants are exercised in full. The Common Warrants are immediately exercisable at an exercise price of $0.85 per share and expire twenty-four (24) months from the date of issuance. As compensation to the placement agent in the Offering, the Company also issued to designees of the placement agent warrants to purchase up to 411,765 shares of Class A common stock (the “Placement Agent Warrants”). The Placement Agent Warrants have substantially the same terms as the Common Warrants, except that the Placement Agent Warrants have an exercise price of $1.0625 per share. The Offering closed on August 11, 2025, and the gross proceeds to the Company were $5.0 million, including the aggregate exercise price of the Pre-Funded Warrants, which were exercised in full concurrently with the closing of the Offering. Net proceeds were $4.5 million after placement agent fees but before other offering expenses payable by the Company.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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