| Schedule of Debt |
Total debt consists of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
December 31, |
|
|
|
|
($ in thousands) |
|
2023 |
|
2022 |
|
Interest rate |
|
Maturity |
|
|
|
|
|
|
|
|
|
|
Oaktree Note |
|
$ |
50,000 |
|
$ |
50,000 |
|
11.00 |
% |
August - 2025 |
EWB Term Loan |
|
|
10,000 |
|
|
20,000 |
|
10.20 |
% |
January - 2026 |
Runway Note |
|
|
— |
|
|
31,050 |
|
13.77 |
% |
April - 2027 |
Less: Discount on notes payable |
|
|
(4,725) |
|
|
(9,320) |
|
|
|
|
Total notes payable |
|
$ |
55,275 |
|
$ |
91,730 |
|
|
|
|
|
| Interest Expense for all Debt Arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
2023 |
|
2022 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
Oaktree Note |
|
|
1,391 |
|
|
712 |
|
|
2,103 |
|
|
1,390 |
|
|
375 |
|
|
1,765 |
Partner company convertible preferred shares |
|
|
391 |
|
|
239 |
|
|
630 |
|
|
215 |
|
|
— |
|
|
215 |
Partner company installment payments - licenses |
|
|
85 |
|
|
— |
|
|
85 |
|
|
981 |
|
|
182 |
|
|
1,163 |
Partner company notes payable1 |
|
|
3,301 |
|
|
272 |
|
|
3,573 |
|
|
— |
|
|
— |
|
|
— |
Other |
|
|
34 |
|
|
— |
|
|
34 |
|
|
11 |
|
|
— |
|
|
11 |
Total Interest Expense and Financing Fee |
|
$ |
5,202 |
|
$ |
1,223 |
|
$ |
6,425 |
|
$ |
2,597 |
|
$ |
557 |
|
$ |
3,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
|
2023 |
|
2022 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
Oaktree Note |
|
|
2,781 |
|
|
1,136 |
|
|
3,917 |
|
|
2,765 |
|
|
731 |
|
|
3,496 |
Partner company convertible preferred shares |
|
|
651 |
|
|
299 |
|
|
950 |
|
|
215 |
|
|
— |
|
|
215 |
Partner company installment payments - licenses |
|
|
176 |
|
|
— |
|
|
176 |
|
|
418 |
|
|
— |
|
|
418 |
Partner company notes payable1 |
|
|
4,801 |
|
|
432 |
|
|
5,233 |
|
|
1,134 |
|
|
215 |
|
|
1,349 |
Other |
|
|
113 |
|
|
332 |
|
|
445 |
|
|
26 |
|
|
— |
|
|
26 |
Total Interest Expense and Financing Fee |
|
$ |
8,522 |
|
$ |
2,199 |
|
$ |
10,721 |
|
$ |
4,558 |
|
$ |
946 |
|
$ |
5,504 |
|