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Debt (Tables)
9 Months Ended
Sep. 30, 2018
Schedule of Debt

 

Debt consisted of the following (in thousands):

 

 

 

September 30, 2018

 

 

December 31, 2017

 

JGB Debt

 

$

 

 

$

7,743

 

Danske Bank Credit Facility

 

 

 

 

 

6,763

 

SSP Primers Loan

 

 

 

 

 

1,215

 

Current portion of long-term debt

 

$

 

 

$

15,721

 

 

 

 

 

 

 

 

 

 

Perceptive Credit Agreement

 

$

13,384

 

 

$

 

JGB Debt

 

 

 

 

 

14,168

 

FastPartner Subordinated Promissory Notes

 

 

 

 

 

2,400

 

Al Amoudi Subordinated Promissory Notes

 

 

 

 

 

1,770

 

Long-term debt, net of current portion

 

$

13,384

 

 

$

18,338

 

 

Schedule of Maturities of Debt

As of September 30, 2018, future debt maturities were as follows (in thousands):

 

Years Ending December 31,

 

Amount

 

2021

 

$

2,025

 

2022

 

 

2,700

 

2023

 

 

10,275

 

Total debt maturities

 

 

15,000

 

Less: debt discount and issuance costs

 

 

(1,616

)

Long-term debt, net carrying value

 

$

13,384

 

 

Perceptive Security Agreement [Member]  
Schedule of Carrying Values of Debt

The following table summarizes the Company’s carrying value of the Perceptive Security Agreement (in thousands) on April 17, 2018, the issuance date (in thousands):

 

 

April 17, 2018

 

Debt principal

 

$

15,000

 

Less:

 

 

 

 

          Issuance cost

 

 

(669

)

          Discount related to issued warrants

 

 

(784

)

          Embedded derivative liability

 

 

(245

)

Total debt discount

 

 

(1,698

)

Carrying value

 

$

13,302

 

 

JGB Debt [Member]  
Schedule of Carrying Values of Debt

The following table summarizes the Company’s carrying value of the JGB Debt (in thousands) on the March 15, 2017 issuance date:

 

 

 

March 15, 2017

 

Debt principal

 

$

27,780

 

Less:

 

 

 

 

          Issuance cost

 

 

(998

)

         Original issue discount

 

 

(2,780

)

         Original warrant valuation

 

 

(900

)

         Embedded Derivative Liability

 

 

(2,290

)

Total debt discount

 

 

(6,968

)

Carrying value

 

$

20,812