Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt and Interest (Tables)

Debt and Interest (Tables)

9 Months Ended

Sep. 30, 2015

Long-term debt consists of the following as of September 30, 2015 and December 31, 2014:

($ in Thousands)	September 30, 2015		December 31, 2014		Interest Rate			Maturity
IDB Note	$	14,009	$	14,009		2.25	%	Feb - 2017
NSC Note		10,000		-		8.00	%	Mar - 2018
Total notes payable, long-term		24,009		14,009
Less: Discount of notes payable		718		6
Total notes payable, long-term, net	$	23,291	$	14,003

Schedule Of Interest Expenses For Debt Arrangements

The following table shows the details of interest expense for all debt arrangements during the periods presented. Interest expense includes contractual interest and amortization of the debt discount and amortization of fees represents fees associated with loan transaction costs, amortized over the life of the loan:

	For the three months ended September 30,				For the nine months ended September 30,
($ in thousands)	2015		2014		2015		2014
IDB Note
Interest	$	82	$	81	$	235	$	202
Amortization of fees		1		1		3		3
Total IDB Note		83		82		238		205

NSC Debt
Interest		208		-		488		-
Amortization of fees		59		-		140		-
Total NSC Debt		267		-		628		-

Ovamed Manufacturing Agreement
Interest		-		39		167		114
Total Ovamed		-		39		167		114

Hercules Debt
Interest (1)		-		-		-		845
Amortization of fees		-		-		-		42
Total Hercules Debt		-		-		-		887
Total Interest Expense	$	350	$	121	$	1,033	$	1,206

(1) Interest expense related to the Company’s loan with Hercules was $0.8 million, including $0.4 million related to accretion of the debt discount.