|
|
|
|
|
Trinity Term Loans |
|
|
|
Beginning fair value balance as of January 1, 2024 |
|
$ |
40,508 |
|
Principal payments |
|
|
— |
|
Change in fair value reported in statements of operations |
|
|
(597 |
) |
Change in fair value reported in comprehensive loss |
|
|
4,031 |
|
Beginning fair value balance as of January 1, 2025 |
|
$ |
43,942 |
|
Repayment of 2023 Term Loan |
|
|
(40,612 |
) |
Beginning fair value balance of 2025 Trinity Term Loan on August 7, 2025 |
|
|
49,783 |
|
Change in fair value reported in statements of operations |
|
|
832 |
|
Change in fair value reported in comprehensive loss |
|
|
(3,839 |
) |
Ending fair value balance as of December 31, 2025 |
|
$ |
50,106 |
|
The following table reconciles the change in fair value of the Success Fees liability during the years ended December 31, 2025 and 2024 (in thousands):
|
|
|
|
|
Success Fees |
|
|
|
Beginning fair value balance at January 1, 2024 |
|
$ |
800 |
|
Change in fair value of 2023 Success Fee |
|
|
130 |
|
Ending fair value balance as of December 31, 2024 |
|
$ |
930 |
|
Beginning fair value balance of 2025 Success Fee on August 7, 2025 |
|
|
217 |
|
Change in fair value of Success Fees |
|
|
405 |
|
Ending fair value balance as of December 31, 2025 |
|
$ |
1,552 |
|
|