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, 2022

Total debt consists of the following:


	December 31,		December 31,
($ in thousands)	2022		2021		Interest rate		Maturity

Oaktree Note	$	50,000	$	60,450	11.00	%	August - 2025
EWB Term Loan		20,000		—	9.23	%	January - 2026
Runway Note		31,050		—	13.40	%	April - 2027
Less: Discount on notes payable		(9,320)		(7,063)
Repayment of Oaktree Note		—		(10,450)
Total notes payable	$	91,730	$	42,937

Interest Expense for all 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:


	Year Ended December 31,
	2022						2021
($ in thousands)	Interest		Fees		Total		Interest		Fees		Total
LOC Fees	$	54	$	—	$	54	$	51	$	—	$	51
Oaktree Note¹		5,561		1,532		7,093		6,897		1,342		8,239
Partner company convertible preferred shares		—		—		—		2,845		2,572		5,417
Partner company dividend payable		—		—		—		820		—		820
Partner company installment payments - licenses²		770		—		770		781		—		781
Partner company notes payable		4,021		533		4,554		—		—		—
Other		11		—		11		—		—		—
Total Interest Expense and Financing Fee	$	10,417	$	2,065	$	12,482	$	11,394	$	3,914	$	15,308

Note 1: Includes $0.5 million prepayment fee for the Oaktree Note included in interest expense in 2021.

Note 2: Imputed interest expense related to Ximino, Accutane, Anti-itch product license and Vyne product licenses (see Note 9).