Quarterly report [Sections 13 or 15(d)]

Subsequent Events

v3.25.4
Subsequent Events
6 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

Note 13. Subsequent Events

 

On January 29, 2026, the Company announced the final results of its previously announced tender offer to purchase for cash up to 300,000 shares of its Common Stock at a purchase price of $3.50 per share (the “Offer”), for an aggregate cost of approximately $1.05 million, excluding fees and expenses relating to the tender offer. The shares accepted for payment represent approximately 0.73% of the shares that were outstanding as of January 26, 2026. Payment for the shares accepted for purchase pursuant to the tender offer was made on January 29, 2026.

 

In accordance with the Company’s plan to “go private” following the completion of the Offer, on February 6, 2026, the Company notified Nasdaq of its intent to voluntarily delist the Common Stock from the Nasdaq Capital Market (“Nasdaq”) and publicly announced such intent. The Company also announced our planned subsequent voluntary deregistration of the Common Stock with the SEC in order to terminate and suspend the Company’s reporting obligations under the Securities Exchange Act of 1934, as amended.