Annual report [Section 13 and 15(d), not S-K Item 405]

Long-Term Debt (Tables)

v3.26.1
Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt

Debt consisted of the following:

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

January Note

 

$

6,295

 

 

$

 

February Note 1st Tranche

 

 

5,983

 

 

 

 

February Note 2nd Tranche

 

 

5,837

 

 

 

 

Secured notes

 

 

3,232

 

 

 

5,666

 

2025 Equipment Loan

 

 

9,668

 

 

 

 

Total

 

$

31,015

 

 

$

5,666

 

Debt — current portion

 

 

6,305

 

 

 

5,666

 

Long-term debt — less current portion

 

$

24,710

 

 

$

 

 

Schedule of Future Minimum Aggregate Payments

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, 2025:

 

Year Ending December 31,

 

(In thousands)

 

2026

 

$

7,098

 

2027

 

 

23,866

 

2028

 

 

3,424

 

Thereafter

 

 

 

Total

 

$

34,388

 

Less: Amount of debt discount to be amortized subsequent to December 31, 2025

 

 

(137

)

Less: 2025 Equipment Loan fees to be amortized subsequent to December 31, 2025

 

 

(20

)

Less: Amount of interest to be accrued subsequent to December 31, 2025

 

 

(3,216

)

Debt as of December 31, 2025

 

$

31,015