Notes Payable (Details) - USD ($) |
12 Months Ended | |||
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Dec. 09, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 09, 2022 |
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Notes Payable (Details) [Line Items] | ||||
Aggregate principle amount | $ 44,000,000 | $ 44,000,000 | ||
Maturity date | Jun. 15, 2027 | |||
Total debt discount and debt issuance costs | $ 3,300,000 | |||
Issuance date | 3,000,000 | |||
Debt issuance costs | 300,000 | |||
Contractual interest | 564,000 | 29,000 | ||
Compensation expense | $ 667,000 | |||
Convertible Debt Securities [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Aggregate principle amount | $ 44,000,000 | |||
Interest rate percentage | 6.00% | 6.00% | ||
Debt instrument, redemption price, percentage | 100.00% | |||
Debt conversion price (in Dollars per share) | $ 4.71 | |||
Principal amount | $ 1,000 | |||
Weighted average price percentage | 95.00% | |||
Convertible notes redemption description | The Notes will become subject to the Company’s right to redeem as follows: (i) on or after June 9, 2023, up to one-third of the aggregate principal amount of the Notes initially issued; (ii) on or after June 9, 2024, up to two-thirds of the aggregate principal amount of the Notes initially issued; and (iii) on or after June 9, 2025, up to 100% of the aggregate principal amount of the Notes initially issued; provided, that at any time the Company exercises the redemption right, (1) the closing sale price per share of the Company’s common stock is greater than 150% of the then-effective conversion price for each of 20 consecutive days of the 30 consecutive trading day period immediately preceding the Company’s redemption notice and (2) a registration statement registering the resale of all shares of common stock into which the principal amount of the Notes is convertible and all shares of common stock issuable as interest or as Interest Make-Whole Payments upon conversion or redemption of any Notes is effective and a current prospectus related thereto remains available throughout the period from the date the redemption notice is delivered to the holders to and including the redemption date. | |||
Stock price percentage | 95.00% | |||
Fair value of components | $ 3,000,000 | |||
Contractual interest | 2,640,000 | $ 154,000 | ||
Promissory Note [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Aggregate principle amount | 4,000,000 | |||
Outstanding principal amount | $ 1,300,000 | |||
Trustee [Member] | Convertible Debt Securities [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Debt instrument, redemption price, percentage | 95.00% | |||
Interest Make Whole Payment [Member] | Convertible Debt Securities [Member] | ||||
Notes Payable (Details) [Line Items] | ||||
Weighted average price percentage | 95.00% |
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- Definition The value of contractual interest. No definition available.
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- Definition Debt instrument face value. No definition available.
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- References No definition available.
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- Definition Amount of amortization expense attributable to debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of debt and lease obligation, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The price per share of the conversion feature embedded in the debt instrument. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Minimum percentage of common stock price to conversion price of convertible debt instruments to determine eligibility of conversion. No definition available.
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- Definition Identification of the lender and information about a contractual promise to repay a short-term or long-term obligation, which includes borrowings under lines of credit, notes payable, commercial paper, bonds payable, debentures, and other contractual obligations for payment. This may include rationale for entering into the arrangement, significant terms of the arrangement, which may include amount, repayment terms, priority, collateral required, debt covenants, borrowing capacity, call features, participation rights, conversion provisions, sinking-fund requirements, voting rights, basis for conversion if convertible and remarketing provisions. The description may be provided for individual debt instruments, rational groupings of debt instruments, or by debt in total. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in YYYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after accumulated amortization, of debt discount. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The compensation expense recognized during the period pertaining to the deferred compensation arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Average amount outstanding of interest-bearing and noninterest-bearing liabilities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Weighted average interest rate of long-term debt outstanding calculated at point in time. No definition available.
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