Unregistered Sales of Equity Securitie s and Use of Proceeds
−Removed: In July 2020, we executed an amendment to the 2019 Credit Facility with Silicon Valley Bank.
−Removed: The amendment extended the initial 12 months interest-only period for the term loan to a 16 months interest only period.
−Removed: The floor interest rate has been lowered by 100 basis points.
−Removed: The 2019 Term Loan bears interest at a floating rate equal to the WSJ prime rate minus 0.75%, subject to a floor of 3.75% p.a.
−Removed: The floor interest rate for the Line of Credit Facility has been lowered by 200 basis points.
−Removed: The Line of Credit now bears interest at a floating rate equal to the Wall Street Journal (WSJ) prime rate plus 1.5%, per annum, subject to a floor of 4.75% p.a.
−Removed: In conjunction with entering into the First Amendment to the 2019 Credit Facility, on July 15, 2020, we issued a warrant to Silicon Valley Bank to purchase 21,500 shares of our common stock at $0.01 per share.
+Added: In July 2020, we executed the first amendment to the 2019 Credit Facility with SVB.
+Added: For additional information about the first amendment to the 2019 Credit Facility, see Part II, Item 5 of this report.
+Added: In conjunction with entering into the amendment, on July 15, 2020, we issued a warrant to SVB to purchase 21,500 shares of our common stock at an exercise price of $0.01 per share.
The warrant expires on July 15, 2025.
−Removed: The warrant was issued in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, in that it was issued to one sophisticated investor.
+Added: The warrant was issued in reliance on Section 4(a)(2) of the Securities Act in that it was issued to one sophisticated investor in a transaction not involving a public offering.
Defaults Upon Senior Securities .
2 unchanged sentences
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