5 unchanged sentences
In June 2017, we entered into a credit facility consisting of term loans up to $10.0 million, and advances under a revolving line of credit up to $5.0 million.
−Removed: Draws on the term debt bear interest through maturity at a variable rate based upon the LIBOR rate plus 3.6%.
−Removed: Advances made under the revolving line of credit bear interest at a variable annual rate equal to the greater of (i) 1.00% above the prime rate and (ii) 5.00%.
+Added: Loans made under the Term Debt bear interest through maturity equal to the greater of (i) 3.75% and (ii) the sum of (A) Index Rate (prime rate published in the Money Rates section of the Western Edition of The Wall Street Journal plus (B) 0.50%.
+Added: Advances made under the Revolving Line of Credit bear interest at a variable annual rate equal to the equal to the greater of (i) 4.25% and (ii) the sum of (A) the prime rate (B) 1.00%.
Increases in these variable interest rates will increase our future interest expense and decrease our results of operations and cash flows.
−Removed: No amounts were drawn down under the credit facility as of June 30, 2020.
+Added: No amounts were drawn down under the credit facility as of September 30, 2020.
Our exposure to interest rates risk relates to our 2017 Credit Facility with variable interest rates, where an increase in interest rates may result in higher borrowing costs.
−Removed: Since we have no outstanding borrowings under our 2017 Credit Facility as of June 30, 2020, the effect of a hypothetical 10% change in interest rates would not have any impact on our interest expense.
+Added: Since we have no outstanding borrowings under our 2017 Credit Facility as of September 30, 2020, the effect of a hypothetical 10% change in interest rates would not have any impact on our interest expense.
Foreign Currency Risk
4 unchanged sentences
These non-functional currency denominated monetary assets are subject to re-measurement which may create fluctuations in other expense, net, a component in our consolidated statement of operations and in the fair value of the assets in the consolidated balance sheet.
−Removed: As of June 30, 2020, the effect of a hypothetical 10% unfavorable change in exchange rates on currencies denominated in other than their functional currency would result in a potential loss in future earnings in our consolidated statement of operations and a reduction in the fair value of the assets of approximately $0.1 million.
+Added: As of September 30, 2020, the effect of a hypothetical 10% unfavorable change in exchange rates on currencies denominated in other than their functional currency would result in a potential loss in future earnings in our consolidated statement of operations and a reduction in the fair value of the assets of approximately $0.1 million.
We did not engage in hedging transactions in 2020 or 2019.
7 unchanged sentences
We may value our equity investment based on significant recent arms-length equity transactions with sophisticated non-strategic unrelated new investors, providing the terms of these equity transactions are substantially similar to the equity transactions terms between the company and us.
−Removed: The impact of the difference in transaction terms on the market value of the portfolio company may be difficult or impossible to quantify.
+Added: The impact of any differences in equity transaction terms may be difficult or impossible to quantify on the market value of investment.
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.