Quarterly report [Sections 13 or 15(d)]

Debt and Interest (Tables)

v3.25.2
Debt and Interest (Tables)
6 Months Ended
Jun. 30, 2025
Debt and Interest  
Schedule of Debt

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June 30, 

​

December 31,

    

Interest rate at

    

​

($ in thousands)

​

2025

​

2024

​

June 30, 2025

​

Maturity

2024 Oaktree Note

​

$

30,369

​

$

35,350

 

11.92

%

July 2027

SWK Term Loan

​

​

25,000

​

​

25,000

​

14.60

%

December 2027

Less: Discount on notes payable

​

​

(1,593)

​

​

(2,388)

​

​

​

​

Current portion of SWK Term Loan

​

​

(3,750)

​

​

—

​

​

​

​

Total notes payable, long term, net

​

$

50,026

​

$

57,962

 

  

 

  

​

Interest Expense for all Debt Arrangements

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Three Months Ended June 30, 

​

​

2025

​

2024

($ in thousands)

    

Interest

    

Fees

    

Total

    

Interest

    

Fees

    

Total

2024 Oaktree Note

​

​

1,330

​

​

320

​

​

1,650

​

​

—

​

​

—

​

​

—

2020 Oaktree Note

​

​

—

​

​

—

​

​

—

​

​

1,390

​

​

522

​

​

1,912

Partner company convertible preferred shares

​

​

—

​

​

—

​

​

—

​

​

(403)

​

​

45

​

​

(358)

Partner company notes payable

​

​

813

​

​

124

​

​

937

​

​

499

​

​

64

​

​

563

Partner company contingent call option accretion

​

​

(71)

​

​

—

​

​

(71)

​

​

—

​

​

—

​

​

—

Other

​

 

2

​

 

—

​

 

2

​

 

5

​

 

—

​

 

5

Total Interest Expense and Financing Fee

​

$

2,074

​

$

444

​

$

2,518

​

$

1,491

​

$

631

​

$

2,122

​

​

​

​

​

​

​

​

​

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​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended June 30, 

​

​

2025

​

2024

($ in thousands)

    

Interest

    

Fees

    

Total

    

Interest

    

Fees

    

Total

2024 Oaktree Note

​

$

2,376

​

$

513

​

$

2,889

​

$

—

​

$

—

​

$

—

2020 Oaktree Note

​

​

—

​

​

—

​

​

—

​

​

2,781

​

​

1,024

​

​

3,805

Partner company convertible preferred shares

​

​

—

​

​

—

​

​

—

​

​

(290)

​

​

90

​

​

(200)

Partner company notes payable

​

​

1,603

​

​

225

​

​

1,828

​

​

985

​

​

126

​

​

1,111

Partner company contingent call option accretion1

​

​

606

​

​

—

​

​

606

​

​

—

​

​

—

​

​

—

Other

​

 

1

​

 

—

​

 

1

​

 

8

​

​

—

​

 

8

Total Interest Expense and Financing Fee

​

$

4,586

​

$

738

​

$

5,324

​

$

3,484

​

$

1,240

​

$

4,724

​

​

Note 1: Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3).