Class A Redeemable Convertible Preferred Stock (Tables)

12 Months Ended

Dec. 31, 2015

Temporary Equity Disclosure [Abstract]

Summary of Product of Paid-in-kind Dividend Rate


For the Period:	PIK Dividend Rate per Annum in Effect
Commencing on the Original Issue Date and ending on the 1^st anniversary of the Original Issue Date		0.0	%
Commencing on the day after the 1^st anniversary of the Original Issue Date and ending on the 4^th anniversary of the Original Issue Date		4.0	%
Commencing on the day after the 4^th anniversary of the Original Issue Date and ending on the 5^th anniversary of the Original Issue Date		5.0	%
Commencing on the day after the 5^th anniversary of the Original Issue Date and ending on the 6^th anniversary of the Original Issue Date		6.0	%
Commencing on the day after the 6^th anniversary of the Original Issue Date and ending on the 7^th anniversary of the Original Issue Date		7.0	%
Commencing on the day after the 7^th anniversary of the Original Issue Date and ending on the 8^th anniversary of the Original Issue Date		8.0	%
Commencing on the day after the 8^th anniversary of the Original Issue Date and ending on the 9^th anniversary of the Original Issue Date		9.0	%
Commencing on the day after the 9^th anniversary of the Original Issue Date and ending on the date of automatic conversion		10.0	%

Schedule of Redemption Discounts

For the Period:	Discount
Commencing on the Original Issue Date and ending on the 1^st anniversary of the Original Issue Date		9.0909	%
Commencing on the day after the 1^st anniversary of the Original Issue Date and ending on the 2^nd anniversary of the Original Issue Date		6.8182	%
Commencing on the day after the 2^nd anniversary of the Original Issue Date and ending on the 3^rd anniversary of the Original Issue Date		4.5455	%
Commencing on the day after the 3^rd anniversary of the Original Issue Date and ending on the 4^th anniversary of the Original Issue Date		2.2727	%

Schedule of Deemed Dividends and Issue Discount

The total amount of deemed dividends and the issue discount are as follows (in thousands):

Fair Value	$	73,200
Issue Discount		36,800
PIK Dividends		80,816
10 Year Liquidation Value	$	190,816

Schedule of Series A Preferred Stock Accretion of Ten Year Liquidation Value

The fair value of the Series A Preferred Stock will be accreted to the ten year liquidation value of $190.8 million using an effective interest rate of approximately 10.06% as follows (in thousands):

	Anniversary of Closing Date
	Year 1		Year 2		Year 3		Year 4		Year 5		Year 6		Year 7		Year 8		Year 9		Year 10
Fair Value	$	73,200	$	80,560	$	88,661	$	97,576	$	107,387	$	118,185	$	130,069	$	143,147	$	157,541	$	173,382
Deemed Dividends		7,360		8,101		8,915		9,811		10,798		11,884		13,078		14,394		15,841		17,434
	$	80,560	$	88,661	$	97,576	$	107,387	$	118,185	$	130,069	$	143,147	$	157,541	$	173,382	$	190,816

Schedule of Beneficial Conversion Feature

The calculation of the Beneficial Conversion Feature is as follows (in thousands except share and per share amounts):

Issue date fair value	$	73,200	Common shares the stock converts into		14,666,667
Common shares the stock coverts into		14,666,667	Excess fair value of stock over conversion price	$	3.05
Effective conversion price	$	4.99	Value of beneficial conversion feature	$	44,720

Stock price on issue date	$	8.04	Fair Value	$	73,200
Effective conversion price	$	4.99	Value of Beneficial Conversion Feature	$	(44,720	)
Excess fair value over conversion price	$	3.05	Carrying Value	$	28,480