Annual report [Section 13 and 15(d), not S-K Item 405]

Debt and Interest (Tables)

v3.26.1
Debt and Interest (Tables)
12 Months Ended
Dec. 31, 2025
Debt and Interest  
Schedule of Debt

  ​ ​ ​

December 31, 

December 31,

  ​ ​ ​

Interest rate at

  ​ ​ ​

($ in thousands)

2025

2024

December 31, 2025

Maturity

2024 Oaktree Note

$

29,789

$

35,350

 

11.6

%

June 2028

SWK Term Loan

25,000

25,000

14.1

%

June 2028

Less: Discount on notes payable

(2,372)

(2,388)

Total notes payable, long term, net

$

52,417

$

57,962

 

  ​

 

  ​

Interest Expense for all Debt Arrangements

Year Ended December 31, 

2025

2024

($ in thousands)

  ​ ​ ​

Interest

  ​ ​ ​

Fees

  ​ ​ ​

Total

  ​ ​ ​

Interest

  ​ ​ ​

Fees

  ​ ​ ​

Total

2024 Oaktree Note

$

4,156

$

931

$

5,087

$

1,954

323

2,277

2020 Oaktree Note1

6,803

1,219

8,022

Partner company convertible preferred shares

(290)

90

(200)

Partner company notes payable

3,232

466

3,698

2,385

307

2,692

Partner company contingent call option accretion2

1,283

1,283

716

716

Other

 

38

 

 

38

 

20

 

 

20

Total Interest Expense and Financing Fee

$

8,709

$

1,397

$

10,106

$

11,588

$

1,939

$

13,527

Note 1:

Includes loss on extinguishment of debt of $3.6 million related to the payoff of the 2020 Oaktree Note on July 25, 2024.

Note 2:Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3).