Risk Factors Update Summary
- Cost reduction plan implemented to align operations, with potential workforce reductions and facility consolidations.
- Increased aggregate principal amount of indebtedness from $164 million to $239.9 million.
- New Senior Term Loan requires monthly principal payments starting in 2026 to fully repay.
- Identified material weaknesses in internal controls over financial reporting, ongoing remediation efforts.
- Goodwill represents 50.7% of total assets, tested for impairment annually, subjective estimates.
- Increased voting power of Co-Founders from 53% to 54% and 8.9% to 9%.
- Issuance of subordinated convertible notes totaling $6.3 million, potential dilution to stockholders.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1823466&owner=exclude
This content requires a 'Free' membership to view. Please create one here.
This content requires a 'Free' membership to view. Please create one here.