The principal amount outstanding under the loan arrangement as of December 31, 2011 and 2012, respectively, subsequent to the completion of the common stock purchase agreements was as follows (in thousands):


Principal amount outstanding at December 31, 2011	$	277,203
Borrowings		12,750
Capitalization of accrued and unpaid interest due and payable as of June 27, 2012		11,876
Reduction of principal indebtedness related to the issuance of common stock pursuant to common stock purchase agreement completed on June 27, 2012		(77,187	)
Capitalization of accrued and unpaid interest due and payable as of October 18, 2012		2,343
Reduction of principal indebtedness related to the issuance of common stock pursuant to common stock purchase agreement completed on October 18, 2012		(107,350	)

Principal amount outstanding at December 31, 2012	$	119,635