v3.21.2
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 85,058 $ 18,196
Restricted cash 186 422
Accounts receivable, net of allowance of $243 and $374 at September 30, 2021 and December 31, 2020, respectively 53,438 71,621
Inventory 13,976 12,019
Prepaid expenses and other current assets 11,738 7,602
Total current assets 164,396 109,860
Property, plant and equipment, net 6,900 4,833
Goodwill 13,641 13,641
Intangible assets, net 6,732 7,629
Right- of- use assets, net 7,144 7,882
Other non-current assets 3,831 3,837
Total assets 202,644 147,682
Current liabilities:    
Accounts payable 24,700 36,849
Deferred revenue 5,045 7,521
Other accrued expenses 28,137 22,538
Subordinated debt [1] 10,445 10,065
Current portion of long-term debt 281 298
Total current liabilities 68,608 77,271
Long-term debt 2,087
Subordinated term loan - related party 37,149 34,756
Senior term loan 39,978 36,834
Convertible debt 40,748
Other long-term liabilities 22,230 17,147
Total liabilities 208,713 168,095
Commitments and contingencies (Note 13)
Stockholders’ deficit:    
Common stock, $0.0001 par value; 250,000,000 shares authorized; 72,024,437 and 59,710,047 shares issued and outstanding at September 30, 2021 and December 31, 2020 7 6
Additional paid-in capital 740,169 674,906
Accumulated deficit (746,245) (695,325)
Total stockholders’ deficit (6,069) (20,413)
Total liabilities and stockholders’ deficit $ 202,644 $ 147,682
[1] As of September 30, 2021, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status of the senior term loan (Fortress Credit Agreement), followed by the junior status of the subordinated term loan and subordinated debt. The implied yields of the senior term loan, subordinated term loan and subordinated debt were 12.8%, 18.6% and 17.7%, respectively. As of December 31, 2020, the fair value of the subordinated term loan, subordinated debt and senior term loan considered the senior status of the senior term loan (Fortress Credit Agreement), followed by the junior status of the subordinated term loan and subordinated debt. The senior term loan face value was adjusted for $4.7 million of original issue discounts and $1.4 million of fair value of Series H warrants issued to lenders pursuant to the Fortress Credit Agreement, resulting in the fair value of the senior term loan totaling $37.9 million, with a 12.80% implied yield. The implied yields of the subordinated term loan and subordinated debt were 17.05% and 16.57%, respectively.

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