Fortress Biotech, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Debt and Interest (Tables)

Debt and Interest (Tables)

12 Months Ended

Dec. 31, 2023


	December 31,
($ in thousands)	2023		2022		Interest rate		Maturity

Oaktree Note	$	50,000	$	50,000	11.0	%	August - 2025
SWK Term Loan		15,000		—	15.1	%	December - 2027
EWB Term Loan		—		20,000	10.2	%	January - 2026
Runway Note		—		31,050	13.8	%	April - 2027
Less: Discount on notes payable		(4,144)		(9,320)
Total notes payable	$	60,856	$	91,730

Interest Expense for all Debt Arrangements


	Year Ended December 31,
	2023						2022
($ in thousands)	Interest		Fees		Total		Interest		Fees		Total
Oaktree Note		5,561		2,073		7,634		5,561		1,532		7,093
Partner company convertible preferred shares		1,023		503		1,526		—		—		—
Partner company installment payments - licenses		353		—		353		770		—		770
Partner company notes payable¹		4,856		492		5,348		4,021		533		4,554
Other		122		332		454		65		—		65
Total Interest Expense and Financing Fee	$	11,915	$	3,400	$	15,315	$	10,417	$	2,065	$	12,482

Note 1: Imputed interest expense related to Ximino, Accutane, Anti-itch product license and VYNE product licenses (see Note 8); includes loss on extinguishment of $2.8 million recorded by Mustang related to payoff of the Runway Note on April 11, 2023.