Other Expense, Net

12 Months Ended

Dec. 31, 2016

Other Expense Disclosure Nonoperating [Abstract]

Other Expense, Net

(7) Other Expense, net

For the year ended December 31, 2016, other expense, net of $0.8 million consisted of financing costs and interest expense. During the year, the Company engaged with a third party lender to secure a term loan to fund, in part, the construction of the planned manufacturing facility in Statesboro, Georgia. In 2016, the Company decided, at its sole discretion, to temporarily delay construction of the facility and its related financing to better align the capacity expansion with the Company’s assessment of demand for the 2018 to 2020 period. As a result, the Company recorded a $0.7 million charge for postponed financing costs. The charge included legal fees incurred by the Company itself and on behalf of the potential lender. In addition, the Company recognized interest expense of $0.1 million of commitment and legal fees associated with its Loan Agreement with Silicon Valley Bank.

For the year ended December 31, 2015, other expense, net consisted primarily of commitment and legal fees associated with the Loan Agreement of $0.2 million.  

For the year ended December 31, 2014, the Company held debt instruments outstanding that were measured at fair value. The charge recognized as a result of the change in fair value of the debt instruments was $50.0 million for the year ended December 31, 2014. In addition, the Company incurred an aggregate of $0.3 million in interest expense associated with the Loan Agreement and for debt closing costs during the year.