Note 11 - Convertible Notes

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Debt Disclosure [Text Block]

( 11 ) Convertible Notes

In

May

2015,

 BioCardia Lifesciences entered into note agreements with various stockholders of BioCardia Lifesciences and other lenders for a total of

$7.2

million (the

2015

Notes). The notes accrued

8%

annual simple interest, matured

18

months from the issue date and were callable after the maturity date by written demand of a majority of the holders of the outstanding note principle. Upon the completion of the Merger, the

2015

Notes and related accrued interest converted into

5,620,332

shares of the Company’s common stock.

In

October 2016,

 BioCardia Lifesciences issued convertible notes with an aggregate principle amount of approximately

$4.4

million, which accrued

8%

annual simple interest. The principle and accrued and unpaid interest on the notes converted automatically into

2,470,771

shares of common stock upon the completion of the Merger.

The Company recognized interest expense, including amortization of the debt discount of approximately

zero

,

$1.7

million and

$1.4

million for the years ended

December 31, 2017,

2016

and

2015,

respectively.