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, 2016

Total debt consists of the following as of December 31, 2016 and December 31, 2015:

	December 31,
($ in thousands)	2016		2015		Interest rate	Maturity
IDB Note	$	14,929	$	14,009	2.25%	Feb - 2018
NSC Note		3,608		10,000	8.00%	Sep - 2018
Opus Credit Facility		7,000		-	12.00%	Sep - 2018
Helocyte Convertible Note, at fair value		1,031		-	5.00% - 8.00%	Dec - 2017
Helocyte Convertible Note, at fair value		2,051		-	5.00% - 8.00%	March - 2018
Helocyte Convertible Note, at fair value		1,405		-	5.00% - 8.00%	May - 2018
Avenue Convertible Note, at fair value		200		-	5.00% - 8.00%	June - 2018
Total notes payable		30,224		24,009
Less: Discount on notes payable		2,009		835
Total notes payable, long-term	$	28,215	$	23,174

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 Years Ended December 31,
($ in thousands)	2016		2015		2014
IDB Note
Interest	$	328	$	314	$	292
Amortization of fees		1		5		4
Total IDB Note		329		319		296

NSC Debt
Interest		599		690		-
Amortization of fees		1,270		309		-
Total NSC Debt		1,869		999		-

Opus Credit Facility
Interest		192		-		-
Amortization of fees		195		-		-
Total Opus Note		387		-		-

Ovamed
Interest		-		166		154
Total Ovamed		-		166		154

LOC Fees
Interest		11		-		-
Total LOC		11		-		-

Helocyte Convertible Note
Interest		61		-		-
Financing fee		962		-		-
Total Helocyte Convertible Note		1,023		-		-

Avenue Convertible Note
Financing fee		70		-		-
Total Avenue Convertible Note		70		-		-

Hercules Debt
Interest ⁽¹⁾		-		-		845
Amortization of fees		-		-		43
Total Hercules Debt		-		-		888

D&O Insurance
Interest		1		-		-
Total D&O Insurance		1		-		-
Total Interest Expense and Financing Fee	$	3,690	$	1,484	$	1,338

(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 for the year ended December 31, 2014.