Quarterly report pursuant to Section 13 or 15(d)

Notes Payable

v3.24.3
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:

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​

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​

​

​

​

​

​

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For the nine months ended September 30, 

($ in thousands)

​

2024

    

2023

Interest expense

​

$

—

​

$

1,187

Amortization of Debt Discount

​

​

—

​

​

118

Loss on Extinguishment

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​

—

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​

2,796

Other

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​

4

​

​

11

Total Interest Expense

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$

4

​

$

4,112

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