Notes Payable

9 Months Ended

Sep. 30, 2024

Notes Payable

Notes Payable

Note 8 – Notes Payable

On April 11, 2023, the Company’s long-term debt facility (the “Term Loan”) with Runway Growth Finance Corp. (“Runway”), originally entered into on March 4, 2023, was terminated upon receipt by Runway of a payoff amount of $30.4 million from the Company comprised of principal, interest and the applicable final payment amount. The loss on extinguishment was recorded in interest expense in the Unaudited Statements of Operations. For the nine months ended September 30, 2024, and 2023, the Company recorded the following components in interest expense:

	For the nine months ended September 30,
($ in thousands)	2024		2023
Interest expense	$	—	$	1,187
Amortization of Debt Discount		—		118
Loss on Extinguishment		—		2,796
Other		4		11
Total Interest Expense	$	4	$	4,112