v3.25.3
SHAREHOLDERS’ EQUITY (DEFICIT) (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Stock-Based Compensation
Three Months Ended September 30,Nine Months Ended September 30,
($ in millions)2025202420252024
Restricted Stock Units$0.8 $0.9 $2.0 $3.3 
Stock Options(1)
— 0.2 (0.7)0.6 
Total $0.8 $1.1 $1.3 $3.9 
(1) Amount for the nine months ended September 30, 2025 represents the reversal of expense for stock options forfeited by our former CEO.
Schedule of Warrants Classified As Equity, And Incremental Fair Value Of New Warrants These warrants were classified as equity, and the incremental fair value of the New Warrants was determined to be $1.1 million higher than the Old Warrants using the Black-Scholes option pricing model with the following assumptions as of the valuation date:
New WarrantsOld Warrants
Strike price
see note(1)
$11.09 
Stock price on valuation date$2.00$2.00
Volatility90.0%90.0%
Expected term (years)5.03.0
Risk-free interest rate3.9%3.7%
Annual variance81.0%81.0%
Dividend yield——
(1) The strike price for the new warrants was estimated using a Monte Carlo simulation, as the actual exercise price was not yet known as of the valuation date (i.e., the lesser of $11.09 or a 25% premium to the volume-weighted average price of the Company’s Class B common stock over trading days that extended beyond the valuation date).