XML 129 R15.htm IDEA: XBRL DOCUMENT v3.3.1.900
Notes Payable
12 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
Notes Payable

7.

Notes Payable

On September 9, 2013, the Company entered into a loan and security agreement with Comerica Bank (“Comerica”), as amended on December 22, 2014, which provided for borrowings of up to $3,000 through August 2014. On September 9, 2013, the Company received $1,000 from borrowings under the agreement, and from March to August 2014, the Company received $2,000 from additional borrowings under the loan and security agreement. Through December 31, 2014, the Company borrowed the full $3,000 available under the loan and security agreement and had made $400 of scheduled principal repayments. During the year ended December 31, 2015, the Company made $900 of scheduled principal repayments. Borrowings under the loan and security agreement were collateralized by substantially all of the Company’s assets, except for its intellectual property.

On September 17, 2015, the Company made a payment of $1,765 to Comerica to satisfy all amounts owed under the loan and security agreement. The extinguishment amount was comprised of $1,700 of outstanding principal and $65 of final fees and accrued interest. Upon payment, Comerica released the Company of all security interests held in the Company’s assets, except for the cash collateral securing the Company’s corporate cards and standby letters of credit, and terminated all loan documents related to the loan and security agreement (other than any indemnification obligations and other provisions which survive termination).

In connection with the extinguishment of the loan and security agreement, the Company recorded a loss on extinguishment of $140, which has been recorded as interest expense in the year ended December 31, 2015.

Accretion of the debt discount recorded as additional interest expense was $96 and $66 for the years ended December 31, 2015 and 2014, respectively. As of December 31, 2015 and December 31, 2014, the unamortized debt discount was $0 and $96, respectively.