v3.25.1
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 18,008 $ 937
Restricted cash 10,405 6,529
Accounts receivable, net 2,591 2,282
Inventory, net 7,157 6,814
Prepaid expenses and other current assets 2,468 2,261
Total current assets 40,629 18,823
Property and equipment, net 369,208 370,978
Finance lease right-of-use assets 261 277
Operating lease right-of-use assets 66 73
Intangible assets, net 36,891 37,783
Other assets 142 101
Total assets 447,197 428,035
Current liabilities    
Accounts payable 15,340 16,987
Accrued liabilities 4,470 18,082
Short-term debt 0 20,205
Financing obligation 60 51
Operating lease liabilities 30 30
Finance lease liabilities 81 81
Total current liabilities 19,981 55,436
Long-term debt    
Principal amount 312,000 447,719
Plus: Debt premium, net of amortization 168,047 0
Less: Unamortized deferred financing costs 0 (31,142)
Long-term debt, net 480,047 416,577
Financing obligation, noncurrent 50,010 49,856
Operating lease liabilities, noncurrent 49 57
Finance lease liabilities, noncurrent 194 206
Warrant liability 9,913 6,403
Total liabilities 560,194 528,535
Commitments and contingencies (Note 12)
Mezzanine equity    
Series A Preferred Stock, $0.0001 par value, 100,000,000 shares authorized, 10,728,414 and 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 21,457 0
Stockholders' equity (deficit)    
Common stock, $0.0001 par value, 400,000,000 shares authorized, 10,642,968 and 8,656,122 issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 1 1
Additional paid-in capital 326,450 322,729
Accumulated deficit (460,905) (423,230)
Total stockholders' equity (deficit) (134,454) (100,500)
Total liabilities, mezzanine equity, and stockholders' equity (deficit) $ 447,197 $ 428,035

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