| Schedule of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
Interest rate at |
|
|
($ in thousands) |
|
2025 |
|
2024 |
|
September 30, 2025 |
|
Maturity |
2024 Oaktree Note |
|
$ |
29,789 |
|
$ |
35,350 |
|
11.92 |
% |
July 2027 |
SWK Term Loan |
|
|
25,000 |
|
|
25,000 |
|
14.47 |
% |
June 2028 |
Less: Discount on notes payable |
|
|
(1,390) |
|
|
(2,388) |
|
|
|
|
Current portion of SWK Term Loan |
|
|
(5,625) |
|
|
— |
|
|
|
|
Total notes payable, long term, net |
|
$ |
47,774 |
|
$ |
57,962 |
|
|
|
|
|
| Interest Expense for all Debt Arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
2025 |
|
2024 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
2024 Oaktree Note |
|
$ |
904 |
|
$ |
204 |
|
$ |
1,108 |
|
$ |
861 |
|
$ |
145 |
|
$ |
1,006 |
2020 Oaktree Note |
|
|
— |
|
|
— |
|
|
— |
|
|
440 |
|
|
159 |
|
|
599 |
Loss on extinguishment of debt |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,582 |
|
|
3,582 |
Partner company notes payable |
|
|
814 |
|
|
123 |
|
|
937 |
|
|
671 |
|
|
87 |
|
|
758 |
Partner company contingent call option accretion |
|
|
677 |
|
|
— |
|
|
677 |
|
|
261 |
|
|
— |
|
|
261 |
Other |
|
|
20 |
|
|
— |
|
|
20 |
|
|
3 |
|
|
— |
|
|
3 |
Total Interest Expense and Financing Fee |
|
$ |
2,415 |
|
$ |
327 |
|
$ |
2,742 |
|
$ |
2,236 |
|
$ |
3,973 |
|
$ |
6,209 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
|
2025 |
|
2024 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
2024 Oaktree Note |
|
$ |
3,280 |
|
$ |
717 |
|
$ |
3,997 |
|
$ |
861 |
|
$ |
145 |
|
$ |
1,006 |
2020 Oaktree Note |
|
|
— |
|
|
— |
|
|
— |
|
|
3,220 |
|
|
1,184 |
|
|
4,404 |
Loss on extinguishment of debt |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
3,582 |
|
|
3,582 |
Partner company convertible preferred shares |
|
|
— |
|
|
— |
|
|
— |
|
|
(290) |
|
|
90 |
|
|
(200) |
Partner company notes payable |
|
|
2,417 |
|
|
348 |
|
|
2,765 |
|
|
1,656 |
|
|
212 |
|
|
1,868 |
Partner company contingent call option accretion1 |
|
|
1,283 |
|
|
— |
|
|
1,283 |
|
|
261 |
|
|
— |
|
|
261 |
Other |
|
|
20 |
|
|
— |
|
|
20 |
|
|
12 |
|
|
— |
|
|
12 |
Total Interest Expense and Financing Fee |
|
$ |
7,000 |
|
$ |
1,065 |
|
$ |
8,065 |
|
$ |
5,720 |
|
$ |
5,213 |
|
$ |
10,933 |
Note 1: Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3).
|