General form for registration of securities under the Securities Act of 1933

Debt (Tables)

v3.25.2
Debt (Tables)
 6 Months Ended 12 Months Ended
Jun. 30, 2025
Dec. 31, 2024
Debt Disclosure [Abstract]    
Schedule of Debt

Debt consisted of the following:

 

    June 30,     December 31,  
    2025     2024  
    (In thousands)  
January Note   $ 5,700     $ —  
February Note 1st Tranche     5,583       —  
February Note 2nd Tranche     5,425       —  
Secured Notes     5,767       5,666  
Total   $ 22,475     $ 5,666  
Debt – current portion     16,913       5,666  
Long-term debt – less current portion   $ 5,562     $ —  

Debt consisted of the following:

 

Schedule of Debt 

    2024     2023  
    December 31,  
    2024     2023  
    (In thousands)  
Secured notes   $ 5,666     $ 33,516  
Deferred financing costs     —       (384 )
Total   $ 5,666     $ 33,132  
Debt – current portion     5,666       21,191  
Long-term debt – less current portion   $ —     $ 11,941  
Schedule of Future Minimum Aggregate Payments

The future minimum aggregate payments for the above borrowings are equal to the quarterly payments made using the Repayment Price, are as follows as of June 30, 2025:

 

    (In thousands)  
Remainder of 2025   $ 17,613  
2026     6,122  
Total   $ 23,735  
Less: Amount of debt discount to be amortized subsequent to June 30, 2025     (231 )
Less: Amount of interest to be accrued subsequent to June 30, 2025     (1,029 )
Debt as of June 30, 2025   $ 22,475  

The future minimum aggregate payments for the above borrowings are equal to the expected payments made following the Exchange, beginning are as follows as of December 31, 2024:

 

    (In thousands)  
2025   $ 5,993  
2026     —  
Long Term Debt   $ 5,993