Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Details)

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FAIR VALUE MEASUREMENTS (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Aug. 13, 2021
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and cash equivalents   $ 7,517 $ 7,253
Restricted Cash   34
Cash and investment in severance benefit accounts   2,818 3,161
Subordinated term loan [1]   45,393 41,528
Subordinated Debt [1]   11,685 11,119
Senior term loan [1]   59,470 40,529
Convertible debt   33,345 43,928
Derivative liability   3,645 5,353
Public Warrants   1 345
Warrants [2]   1 36
Warrants [3]   $ 1,163
Stock price $ 9.75 $ 0.09  
Risk free rate 0.51% 4.79%  
Volatility 25.00% 94.00%  
Dividend yield 0.00% 0.00%  
Private Placement Warrants [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Stock price   $ 0.09  
Exercise price   $ 11.50  
Risk free rate   4.09%  
Volatility   84.20%  
Dividend yield   0.00%  
Fair Value, Inputs, Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and cash equivalents   $ 7,517 7,253
Restricted Cash   34
Cash and investment in severance benefit accounts   2,818 3,161
Public Warrants   1 345
Fair Value, Inputs, Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Subordinated term loan [1]   28,491 25,503
Subordinated Debt [1]   8,110 7,386
Senior term loan [1]   56,062 36,680
Convertible debt   34,186 48,249
Fair Value, Inputs, Level 3 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Derivative liability   3,645 5,353
Warrants [2]   1 36
Warrants [3]   $ 1,163
[1] As of December 31, 2023 and 2022, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status of the senior term loan under the Fortress Credit Agreement, followed by the junior status of the subordinated term loan and subordinated debt. The implied yields of the senior term loan, subordinated term loan and subordinated debt were 43.55%, 37.97% and 51.42%, respectively, as of December 31, 2023. The implied yields of the senior term loan, subordinated term loan and subordinated debt were 23.00%, 27.18% and 28.78%, respectively, as of December 31, 2022.
[2] As of December 31, 2023 and 2022, the fair value of warrants outstanding that are classified as liabilities are included in other long-term liabilities in the Company’s consolidated balance sheets. The key inputs to the valuation models that were utilized to estimate the fair value of the Private Placement Warrants were as follows as of December 31, 2023:
[3] As of December 31, 2023 and 2022, the fair value of warrants outstanding that are classified as equity are included in additional paid in capital in the Company’s consolidated balance sheets.