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For example, if we hold a security that was issued with a fixed interest rate at the then-prevailing rate and the interest rate later rises, we expect that the fair value of our investment will decline.
−Removed: A hypothetical 100 basis point increase in interest rates would have reduced the fair value of our available-for-sale securities at March 31, 2024 by approximately $0.6 million.
+Added: A hypothetical 100 basis point increase in interest rates would have reduced the fair value of our available-for-sale securities at June 30, 2024 by approximately $0.7 million.
The fair value of our 2025 Notes is impacted by both the fair value of our common stock and interest rate fluctuations.
−Removed: As of March 31, 2024, the estimated fair value of the 2025 Notes was $953 per $1,000 principal amount.
+Added: As of June 30, 2024, the estimated fair value of the 2025 Notes was $938 per $1,000 principal amount.
See Note 8, Debt , to our condensed consolidated financial statements included herein for further discussion of our 2025 Notes, which bear interest at a fixed rate.
−Removed: At March 31, 2024, all $402.5 million of principal remains outstanding on the 2025 Notes and $8.6 million of principal remained outstanding on the Flexion 2024 Notes, which was subsequently repaid at maturity on May 1, 2024.
+Added: At June 30, 2024, $202.5 million of principal remains outstanding on the 2025 Notes.
+Added: The fair value of our 2029 Notes is impacted by both the fair value of our common stock and interest rate fluctuations.
+Added: As of June 30, 2024, the estimated fair value of the 2029 Notes was $996 per $1,000 principal amount.
+Added: See Note 8, Debt , to our condensed consolidated financial statements included herein for further discussion of our 2029 Notes, which bear interest at a fixed rate.
+Added: At June 30, 2024, $287.5 million of principal remains outstanding on the 2029 Notes.
The TLA Term Loan provides for a single-advance term loan in the principal amount of $150.0 million and is scheduled to mature on March 31, 2028.
Each term loan borrowing that is a term benchmark borrowing or daily simple SOFR borrowing bears interest at a rate per annum equal to (i) the Adjusted Term SOFR Rate or Adjusted Daily Simple SOFR (as each is defined in the TLA Credit Agreement), plus (ii) a spread based on our Senior Secured Net Leverage Ratio ranging from 3.00% to 3.75%.
−Removed: At March 31, 2024, the outstanding principal on the TLA Term Loan was $113.8 million.
−Removed: As of March 31, 2024, borrowings under the TLA Term Loan consisted entirely of term benchmark borrowings at a rate of 8.41%.
−Removed: A hypothetical 100 basis point increase in interest rates would increase interest expense over the next 12 months by approximately $1.1 million, based on the balance outstanding for these borrowings as of March 31, 2024.
+Added: At June 30, 2024, the outstanding principal on the TLA Term Loan was $110.9 million.
+Added: As of June 30, 2024, borrowings under the TLA Term Loan consisted entirely of term benchmark borrowings at a rate of 8.43%.
+Added: A hypothetical 100 basis point increase in interest rates would increase interest expense over the next 12 months by approximately $1.1 million, based on the balance outstanding for these borrowings as of June 30, 2024.
We have agreements with certain vendors and partners that operate in foreign jurisdictions.
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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.