| Schedule of Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
December 31, 2025 |
|
|
Fortress |
|
Journey |
|
Total |
|
Fortress |
|
Journey |
|
Total |
($ in thousands) |
|
2024 Oaktree Note |
|
SWK Term Loan |
|
Notes Payable |
|
2024 Oaktree Note |
|
SWK Term Loan |
|
Notes Payable |
Notes payable, short-term |
|
$ |
— |
|
$ |
5,000 |
|
$ |
5,000 |
|
$ |
— |
|
$ |
— |
|
$ |
— |
Notes payable, long-term |
|
|
15,000 |
|
|
20,000 |
|
|
35,000 |
|
|
29,494 |
|
|
25,000 |
|
|
54,494 |
Total notes payable |
|
|
15,000 |
|
|
25,000 |
|
|
40,000 |
|
|
29,494 |
|
|
25,000 |
|
|
54,494 |
Plus: yield protection premium/exit fee |
|
|
150 |
|
|
1,250 |
|
|
1,400 |
|
|
295 |
|
|
1,250 |
|
|
1,545 |
Less: Debt discount |
|
|
(1,020) |
|
|
(778) |
|
|
(1,798) |
|
|
(2,649) |
|
|
(973) |
|
|
(3,622) |
Total notes payable, net |
|
$ |
14,130 |
|
$ |
25,472 |
|
$ |
39,602 |
|
$ |
27,140 |
|
$ |
25,277 |
|
$ |
52,417 |
|
| Interest Expense for all Debt Arrangements |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
2026 |
|
2025 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
2024 Oaktree note |
|
$ |
429 |
|
$ |
124 |
|
$ |
553 |
|
$ |
1,330 |
|
|
320 |
|
|
1,650 |
Partner company notes payable |
|
|
807 |
|
|
100 |
|
|
907 |
|
|
813 |
|
|
124 |
|
|
937 |
Partner company contingent call option accretion1 |
|
|
— |
|
|
— |
|
|
— |
|
|
(71) |
|
|
— |
|
|
(71) |
Other |
|
|
16 |
|
|
— |
|
|
16 |
|
|
2 |
|
|
— |
|
|
2 |
Total interest expense and financing fee |
|
$ |
1,252 |
|
$ |
224 |
|
$ |
1,476 |
|
$ |
2,074 |
|
$ |
444 |
|
$ |
2,518 |
Note 1: Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3), which expired in 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
|
2026 |
|
2025 |
($ in thousands) |
|
Interest |
|
Fees |
|
Total |
|
Interest |
|
Fees |
|
Total |
2024 Oaktree note |
|
$ |
1,262 |
|
$ |
1,630 |
|
$ |
2,892 |
|
$ |
2,376 |
|
$ |
513 |
|
$ |
2,889 |
Partner company convertible preferred shares |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Partner company notes payable |
|
|
1,603 |
|
|
195 |
|
|
1,798 |
|
|
1,603 |
|
|
225 |
|
|
1,828 |
Partner company contingent call option accretion1 |
|
|
— |
|
|
— |
|
|
— |
|
|
606 |
|
|
— |
|
|
606 |
Other |
|
|
155 |
|
|
— |
|
|
155 |
|
|
1 |
|
|
— |
|
|
1 |
Total interest expense and financing fee |
|
$ |
3,020 |
|
$ |
1,825 |
|
$ |
4,845 |
|
$ |
4,586 |
|
$ |
738 |
|
$ |
5,324 |
Note 1: Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3), which expired in 2025.
|