| Schedule of Debt |
Total debt consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
|
|
($ in thousands) |
|
2023 |
|
2022 |
|
Interest rate |
|
Maturity |
|
|
|
|
|
|
|
|
|
|
Oaktree Note |
|
$ |
50,000 |
|
$ |
50,000 |
|
11.00 |
% |
August - 2025 |
EWB Term Loan |
|
|
— |
|
|
20,000 |
|
10.20 |
% |
January - 2026 |
Runway Note |
|
|
— |
|
|
31,050 |
|
13.77 |
% |
April - 2027 |
Less: Discount on notes payable |
|
|
(4,209) |
|
|
(9,320) |
|
|
|
|
Total notes payable |
|
$ |
45,791 |
|
$ |
91,730 |
|
|
|
|
|
| Interest Expense for all Debt Arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
2023 |
|
2022 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
Oaktree Note |
|
|
1,425 |
|
|
459 |
|
|
1,884 |
|
|
1,406 |
|
|
395 |
|
|
1,801 |
Partner company convertible preferred shares |
|
|
234 |
|
|
140 |
|
|
374 |
|
|
— |
|
|
— |
|
|
— |
Partner company installment payments - licenses |
|
|
177 |
|
|
— |
|
|
177 |
|
|
201 |
|
|
— |
|
|
201 |
Partner company notes payable |
|
|
33 |
|
|
58 |
|
|
91 |
|
|
1,221 |
|
|
159 |
|
|
1,380 |
Other |
|
|
8 |
|
|
— |
|
|
8 |
|
|
11 |
|
|
— |
|
|
11 |
Total Interest Expense and Financing Fee |
|
$ |
1,877 |
|
$ |
657 |
|
$ |
2,534 |
|
$ |
2,839 |
|
$ |
554 |
|
$ |
3,393 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
2023 |
|
2022 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
Oaktree Note |
|
|
4,206 |
|
|
1,595 |
|
|
5,801 |
|
|
4,171 |
|
|
1,126 |
|
|
5,297 |
Partner company convertible preferred shares |
|
|
886 |
|
|
439 |
|
|
1,325 |
|
|
— |
|
|
— |
|
|
— |
Partner company installment payments - licenses |
|
|
353 |
|
|
— |
|
|
353 |
|
|
619 |
|
|
— |
|
|
619 |
Partner company notes payable1 |
|
|
4,834 |
|
|
490 |
|
|
5,324 |
|
|
2,570 |
|
|
374 |
|
|
2,944 |
Other |
|
|
120 |
|
|
332 |
|
|
452 |
|
|
37 |
|
|
— |
|
|
37 |
Total Interest Expense and Financing Fee |
|
$ |
10,400 |
|
$ |
2,856 |
|
$ |
13,255 |
|
$ |
7,397 |
|
$ |
1,500 |
|
$ |
8,897 |
|