Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In August 2016, the Company and affiliates of Third Security committed to participate in a financing transaction of Fibrocell Science, Inc., which provides for the issuance of up to $25,000 in convertible promissory notes and warrants to purchase common stock. The Company and affiliates of Third Security will participate based on their respective current pro rata ownership interest and the initial closing of the financing is expected to occur during the third quarter of 2016.

In July 2016, a purported shareholder derivative action captioned Basile v. Kirk et al. was filed in the Circuit Court of Fairfax County, Virginia, against certain of the Company's directors, the Company's Chief Executive Officer, and Third Security. The complaint alleges causes of action for breaches of fiduciary duty and unjust enrichment relating to the entry by the Company into the Services Agreement with Third Security. The plaintiff seeks, among other things, damages in an unspecified amount, disgorgement of improper benefits, appropriate equitable relief, and an award of attorney fees and other costs and expenses. The Board of Directors of the Company appointed a Special Litigation Committee consisting of independent directors to investigate the claims and allegations made in the derivative action and to decide on behalf of the Company whether the claims and allegations should be pursued.

In July 2016, the Company entered into a land lease agreement to commence in January 2017 to be used for its Arctic^® apples. The initial term is through December 2037 and future minimum lease payments under this leasing arrangement total approximately $8,300. The Company shall have the right to terminate the lease with six months' advance written notice under certain circumstances as defined in the lease agreement.