1 unchanged sentence
Interest Rate Risk
−Removed: We are exposed to market risk for changes in interest rates applicable to our short-term investments.
−Removed: We had cash, cash equivalents, restricted cash and short-term investments in marketable securities totaling $534.2 million as of December 31, 2022.
−Removed: Cash equivalents and short-term investments were invested primarily in money market funds, U.S.
−Removed: Treasury securities, corporate debt securities and commercial paper.
+Added: We are exposed to market risk for changes in interest rates applicable to our borrowings and short-term investments.
+Added: The Loan under the Credit Agreement accrues interest from and including the date the applicable advance is made but excluding the repayment date at a rate of the SOFR, plus 2.00% subject to a SOFR floor of 0.00%.
+Added: Additionally, we had cash, cash equivalents, and restricted cash totaling $471.5 million as of December 31, 2023.
+Added: Cash equivalents were invested in money market funds.
The primary objectives of our investment activities are to preserve principal and achieve liquidity requirements.
We do not enter into investments for trading or speculative purposes.
−Removed: Due to the relatively short-term nature of our investment portfolio, a hypothetical 100 basis point change in interest rates would not have had a material impact on the fair value of our portfolio for the periods presented.
+Added: A hypothetical 100 basis point change in interest rates applicable to the Loan under the Credit Agreement or with respect to our investment portfolio would not have had a material impact on the fair value of our portfolio for the periods presented.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.