XML 35 R21.htm IDEA: XBRL DOCUMENT v3.24.3
WARRANTS
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
WARRANTS

 

13)WARRANTS

 

As discussed in Notes 5 and 6, respectively, the Company has previously issued the note warrants and the Q1-22 warrants. The Company also has the December 2022 warrants outstanding from a private placement completed in the fourth quarter of 2022.

 

As of September 30, 2024, the Company has the following warrants outstanding:

 

   Warrants
Outstanding
(in thousands)		   Exercise
Price		   Expiration
Date		  Classification
Q1-22 warrants   343   $38.20   September 9, 2027  Liability
December 2022 Warrants   4,370   $1.43   June 2, 2028  Equity
July 2023 Note Warrants   6,094   $1.43   July 14, 2028  Equity
December 2023 Note Warrant issued December 15, 2023   8,115   $1.43   December 15, 2028  Equity
December 2023 Note Warrant issued January 11, 2024   1,464   $1.43   January 11, 2029  Equity
    20,386            

 

As of September 30, 2024, the weighted average remaining contractual life of the warrants outstanding was 3.95 years and the weighted average exercise price was $2.05.

 

On October 29, 2024, all of the warrants except for the Q1-22 warrants and approximately 142,000 of the December 2022 Warrants were exchanged for common stock at a rate of one-half share of common stock for every one warrant share pursuant to the Exchange Transactions. See Note 5 and 17 for more information regarding the Exchange Transactions.