| Schedule of Borrowings |
The following tables summarize the Company’s borrowings as of June 30, 2020, and December 31, 2019 (in thousands):
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June 30, 2020 |
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Principal repayment obligation (1)
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Unamortized DFC and discounts |
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Carrying value |
| 2020 Unsecured Note |
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$ |
52,500 |
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$ |
(18,608) |
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$ |
33,892 |
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2019 Term Loan, due November 2021 (2)
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54,238 |
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(6,752) |
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47,486 |
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| 2018 Term Loan, due September 2021 |
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60,000 |
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(1,342) |
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58,658 |
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| Total borrowings |
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$ |
166,738 |
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$ |
(26,702) |
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$ |
140,036 |
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December 31, 2019 |
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Principal repayment obligation and
other fees (3)
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Unamortized DFC and discounts |
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Carrying value |
2019 Term Loan, due May 2020 (2)
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$ |
84,955 |
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$ |
(6,427) |
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$ |
78,528 |
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| 2018 Term Loan, due September 2021 |
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60,000 |
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(1,879) |
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58,121 |
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| Total borrowings |
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$ |
144,955 |
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$ |
(8,306) |
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$ |
136,649 |
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(1) Includes paid-in-kind interest on the 2019 Term loan of $1.3 million.
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| (2) Maturity date amended as part of the Second Amendment to the 2019 Term Loan. |
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(3) Includes paid-in-kind interest on the 2019 Term loan of $1.8 million as well as a final payment fee equal to 20% of the principal amount less financing costs and cash interest amounts paid. |
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| Summary of Debt Instrument Payment Schedule |
The 2020 Unsecured Note will be repaid in installments on the first day of every month as follows (in thousands):
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| Period |
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Periodic Amount |
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Total Amount |
| June 1, 2020 |
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$ |
3,500 |
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$ |
3,500 |
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| July 1, 2020 – October 1, 2020 |
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5,000 |
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20,000 |
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| November 1, 2020 |
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4,500 |
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4,500 |
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| December 1, 2020 – June 1, 2021 |
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4,000 |
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28,000 |
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| Face amount of 2020 Unsecured Note |
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$ |
56,000 |
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