3 unchanged sentences
However, the goals of our investment policy are the preservation of capital, fulfillment of liquidity needs and fiduciary control of cash.
−Removed: To achieve our goal of maximizing income without assuming significant market risk, we maintain our excess cash and cash equivalents in money market funds and short-term debt securities.
+Added: To achieve our goal of maximizing income without assuming significant market
+Added: risk, we maintain our excess cash and cash equivalents in money market funds and short-term debt securities.
Because of the short-term maturities of our cash equivalents, we do not believe that a decrease in interest rates would have any material negative impact on the fair value of our cash equivalents.
−Removed: As of June 30, 2024, we had cash, cash equivalents and short-term investments of $186.0 million, which consisted of bank deposits and money market funds, as well as high quality fixed income instruments including commercial paper, U.S.
−Removed: government-sponsored agency bonds, corporate bonds and asset-backed securities.
+Added: As of September 30, 2024, we had cash, cash equivalents and short-term investments of $190.4 million, which consisted of bank deposits and money market funds, as well as high quality fixed income instruments including commercial paper, U.S.
+Added: government-sponsored agency bonds, corporate bonds, Yankee bonds and asset-backed securities.
The credit rating of our short-term investments must be rated A-1/P-1, or better by Standard and Poor’s and Moody’s Investors Service.
5 unchanged sentences
We are subject to interest rate fluctuation exposure through our borrowings under the Loan Agreement and our investment in money market accounts which bear a variable interest rate.
−Removed: Borrowings under the 2022 Loan as amended bear interest at a floating per annum interest rate with 7.95% plus the greater of (a) one percent (1.00%) per annum and (b)(i) 0.022% plus (ii) 1-month CME Term SOFR reference rate as published by the CME Term SOFR Administrator on the CME Term SOFR Administrator’s Website.
−Removed: A hypothetical increase in one-month CME Term SOFR of 100 basis points above the current one-month CME Term SOFR rate would have increased our interest expense by approximately $0.3 million for the six months ended June 30, 2024.
−Removed: As of June 30, 2024, we had an aggregate principal amount of $100.0 million outstanding pursuant to our 2022 Loan Agreement.
+Added: Borrowings under the 2022 Loan Agreement as amended bear interest at a floating per annum interest rate with 7.95% plus the greater of (a) one percent (1.00%) per annum and (b)(i) 0.022% plus (ii) 1-month CME Term SOFR reference rate as published by the CME Term SOFR Administrator on the CME Term SOFR Administrator’s Website.
+Added: A hypothetical increase in one-month CME Term SOFR of 100 basis points above the current one-month CME Term SOFR rate would have increased our interest expense by approximately $0.7 million for the nine months ended September 30, 2024.
+Added: As of September 30, 2024, we had an aggregate principal amount of $100.0 million outstanding pursuant to our 2022 Loan Agreement.
Foreign Currency Risk.
6 unchanged sentences
The counterparties to our forward foreign currency exchange contracts are creditworthy commercial banks, which minimizes the risk of counterparty nonperformance.
−Removed: As of June 30, 2024, we had no open forward foreign currency exchange contracts.
+Added: As of September 30, 2024, we had no open forward foreign currency exchange contracts.
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.