1 unchanged sentence
Interest Rate Risk
−Removed: Interest on borrowings under the MidCap credit facility accrues interest at an annual rate equal to the lesser of (i) 8.25% and (ii) the one-month LIBOR (subject to a one-month LIBOR floor of 1.00%) plus 6.25%.
−Removed: Accordingly, our interest expense under the MidCap credit facility is subject to changes in the one-month LIBOR rate.
−Removed: See “Risk Factors — We have a substantial amount of debt, and we may be unable to make required payments of interest and principal as they become due” under Part II, Item 1A of this report for additional information regarding the risks we face related to the planned phase-out of LIBOR.
+Added: Interest on borrowings under the MidCap credit facility accrues interest at an annual rate equal to the lesser of (i) 8.25% and (ii) the one-month SOFR (subject to a one-month SOFR floor of 1.00%) plus 6.25%.
+Added: Accordingly, our interest expense under the MidCap credit facility is subject to changes in the one-month SOFR rate.
All other debt has fixed interest rates, so the interest expense associated with such debt is not exposed to changes in market interest rates.
−Removed: Specifically, the interest rate on amounts borrowed under the Mann Group promissory notes is fixed at 2.50% and the interest rate under the Senior convertible notes is fixed at 2.50%.
+Added: Specifically, the interest rate on amounts borrowed under the Mann Group promissory note is fixed at 2.50% and the interest rate under the Senior convertible notes is fixed at 2.50%.
See Note 9 – Borrowings for information about the principal amount of outstanding debt.
−Removed: If a change in one-month LIBOR interest rates equal to 10% of the one-month LIBOR interest rates on June 30 , 2022 were to have occurred, this change would not have had a material effect on our interest payment obligation.
+Added: If a 10% change in the one-month SOFR interest rates on September 30 , 2022 were to have occurred, this change would not have had a material effect on our interest payment obligation.
Foreign Currency Exchange Risk
+Added: In July 2022, we entered into a 90-day foreign currency hedging transaction to mitigate our exposure to foreign currency exchange risks associated with our insulin purchase obligation under the Insulin Supply Agreement.
+Added: The hedging transaction hedges against short-term currency fluctuations for the remaining current year purchase obligation under the Insulin Supply Agreement of €2.0 million.
+Added: We realized a $0.2 million loss during the three months ended September 30, 2022.
+Added: This amount is recorded in other income and expense.
We incur and will continue to incur significant expenditures for insulin supply obligations under our Insulin Supply Agreement with Amphastar.
4 unchanged sentences
dollar and the Euro.
−Removed: For the three months ended June 30, 2022, we realized a $4.5 million currency gain, which was included in gain on foreign currency translation in the accompanying condensed consolidated statements of operations.
+Added: For the three months ended September 30, 2022, we realized a $1.8 million currency gain, which was included in gain on foreign currency translation in the accompanying condensed consolidated statements of operations.
Exchange rate fluctuations may adversely affect our expenses, results of operations, financial position and cash flows.
1 unchanged sentence
dollar to Euro exchange rate equal to 10% of the U.S.
−Removed: dollar to Euro exchange rate on June 30, 2022 were to have occurred, this change would have resulted in a foreign currency impact to our pre-tax loss of approximately $7.3 million.
+Added: dollar to Euro exchange rate on September 30, 2022 were to have occurred, this change would have resulted in a foreign currency impact to our pre-tax loss of approximately $7.0 million.
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.