Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events

Subsequent Events

17.  Subsequent Events

For its unaudited consolidated financial statements as of September 30, 2017, and for the three and nine months then ended, the Company evaluated subsequent events through the date on which those financial statements were issued.

Purchases of Kleo Common Stock

On October 5, 2017, the Company purchased 1,375,000 shares of common stock, $0.0001 par value, of Kleo in satisfaction of the third of a series of the Company’s purchase commitments pursuant to the securities purchase agreement between Kleo and the Company, dated as of August 29, 2016.  The total consideration paid by the Company to Kleo for the shares was $1,375.

In addition, on October 5, 2017, the Company entered into two separate subscription agreements with Kleo (“First Subscription Agreement” and “Second Subscription Agreement”) in order to maintain the Company’s relative ownership interest in Kleo.  Pursuant to the First Subscription Agreement, the Company purchased 1,397,904 shares of Kleo’s common stock at a purchase price of $1.0993 per share, for total consideration of $1,537.  Pursuant to the Second Subscription Agreement, the Company purchased an additional 651,639 shares of Kleo’s common stock at a purchase price of $1.0993 per share, for total consideration of $716.

The Company’s purchase of 3,424,543 shares of Kleo’s common stock in October  2017 resulted in an increase in our ownership interest in Kleo to 43.3% of the outstanding stock of Kleo, compared with 33.0% as of September 30, 2017.