SUBSEQUENT EVENTS |
12 Months Ended |
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Dec. 31, 2022 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
20. SUBSEQUENT EVENTS
During February 2023, SVB increased the Company’s line of credit to $25 million and extended the term of the agreement for two additional years. The financial covenants were also slightly modified for 2023 and subsequent years.
Subsequent to December 31, 2022, the Company sold approximately 60,000 shares of Series B Preferred Stock via an “at-the-market” offering, raising net proceeds of approximately $1.5 million. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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