Subsequent Events |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2020 | |||
| Subsequent Events [Abstract] | |||
| Subsequent Events |
On July 29, 2020, the Company entered into the Third Amendment to the Loan Agreement. The Third Amendment allows for interest-only payments for the amounts due on July 1, 2020 and August 1, 2020. The Third Amendment also provides for a one-month extension in the maturity date of the first tranche to September 1, 2020, on which date the remaining outstanding principal balance and associated final payment will be due. Further, the Third Amendment amends the payment schedule for the second tranche, requiring equal monthly principal payments plus accrued interest beginning September 1, 2020 through the scheduled maturity on January 1, 2021. Finally, the Third Amendment removes the requirement for the Company to maintain a minimum cash balance for the remainder of the loan term. As consideration for these amendments, the final payment for the second tranche, due upon maturity, has been increased by approximately $0.1 million. |