SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2017

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 15.  SUBSEQUENT EVENTS

In April 2017, the Company, in accordance with the terms of the secured debt facility with the Purchasers prepaid $100 million of principal amount of the $475 million secured indebtedness. In addition, the Company also paid a $4 million prepayment fee and recorded an expense for related unamortized balances of debt discount and debt issuance costs in April 2017.

In May 2017, the Company implemented a reduction in force which is expected to result in a one-time charge of up to $5.0 million in 2017.