XML 60 R22.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Events
3 Months Ended
Apr. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent events
On May 5, 2020, the Company entered into a Second Amended and Restated Loan Agreement (the Restated Loan Agreement) with Silicon Valley Bank. The Restated Loan Agreement restates the Amended and Restated Loan and Security Agreement, dated February 28, 2019 (the Existing Loan Agreement).
The Restated Loan Agreement provides for a revolving line of credit of up to $50,000 (with options to increase to up to $65,000) that replaces the Company's existing revolving line of credit of up to $25,000. The Company used approximately $20,000 of the proceeds to pay off an existing term loan under the Existing Loan Agreement. The new revolving line of credit provided to the Company does not require any principal payments until it terminates on May 5, 2025.
Borrowings under the restated Loan Agreement accrue interest at an initial rate equal to the greater of (i) the prime rate reported in The Wall Street Journal or (ii) 4.50%, and are secured by substantially all of the Company's assets, excluding its intellectual property.