LOAN PAYABLE (Tables)

3 Months Ended

Mar. 31, 2023

LOAN PAYABLE

Schedule of key assumptions

	Amended Term Loan
Exercise price	$	14.70
Common share price on date of issuance	$	15.04
Volatility		0.88	%
Risk-free interest rate		3.6	%
Expected dividend yield		—	%
Contractual term (in years)		7.00 years

Schedule of loan payable

The loan payable as of March 31, 2023 and December 31, 2022, is as follows:

	March 31,		December 31,
(in thousands)	2023		2022
Loan payable	$	95,000	$	70,000
Add: Accreted Liability of final payment fee		8,532		6,667
		103,532		76,667
Less: unamortized debt issuance costs		(7,029)		(5,532)
		96,503		71,135
Less: principal payments		—		—
Total loan payable		96,503		71,135
Less: current portion		—		—
Loan payable non-current	$	96,503	$	71,135