Quarterly report pursuant to Section 13 or 15(d)

Debt and Interest (Tables)

v3.23.3
Debt and Interest (Tables)
9 Months Ended
Sep. 30, 2023
Debt and Interest  
Schedule of Debt

Total debt consists of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

    

September 30, 

    

December 31,

    

​

    

​

($ in thousands)

​

2023

​

2022

​

Interest rate

​

Maturity

​

​

​

​

​

​

​

​

​

​

Oaktree Note

​

$

50,000

​

$

50,000

 

11.00

%

August - 2025

EWB Term Loan

​

​

—

​

​

20,000

​

10.20

%

January - 2026

Runway Note

​

​

—

​

​

31,050

​

13.77

%

April - 2027

Less: Discount on notes payable

​

​

(4,209)

​

​

(9,320)

​

​

​

​

Total notes payable

​

$

45,791

​

$

91,730

 

  

 

  

Interest Expense for all Debt Arrangements

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 

​

​

2023

​

2022

($ in thousands)

    

Interest

    

Fees

    

Total

    

Interest

    

Fees

    

Total

Oaktree Note

​

​

1,425

​

​

459

​

​

1,884

​

​

1,406

​

​

395

​

​

1,801

Partner company convertible preferred shares

​

​

234

​

​

140

​

​

374

​

​

—

​

​

—

​

​

—

Partner company installment payments - licenses

​

​

177

​

​

—

​

​

177

​

​

201

​

​

—

​

​

201

Partner company notes payable

​

​

33

​

​

58

​

​

91

​

​

1,221

​

​

159

​

​

1,380

Other

​

 

8

​

 

—

​

 

8

​

 

11

​

 

—

​

 

11

Total Interest Expense and Financing Fee

​

$

1,877

​

$

657

​

$

2,534

​

$

2,839

​

$

554

​

$

3,393

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Nine Months Ended September 30, 

​

​

2023

​

2022

($ in thousands)

    

Interest

    

Fees

    

Total

    

Interest

    

Fees

    

Total

Oaktree Note

​

​

4,206

​

​

1,595

​

​

5,801

​

​

4,171

​

​

1,126

​

​

5,297

Partner company convertible preferred shares

​

​

886

​

​

439

​

​

1,325

​

​

—

​

​

—

​

​

—

Partner company installment payments - licenses

​

​

353

​

​

—

​

​

353

​

​

619

​

​

—

​

​

619

Partner company notes payable1

​

​

4,834

​

​

490

​

​

5,324

​

​

2,570

​

​

374

​

​

2,944

Other

​

 

120

​

 

332

​

 

452

​

 

37

​

​

—

​

​

37

Total Interest Expense and Financing Fee

​

$

10,400

​

$

2,856

​

$

13,255

​

$

7,397

​

$

1,500

​

$

8,897

​