Quarterly report pursuant to Section 13 or 15(d)

Debt

v3.22.1
Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt Debt
2021 Promissory Note
In connection with the acquisition of Lyte, we entered into a note purchase agreement and completed the sale of an unsecured promissory note (the "2021 Promissory Note") with an original principal amount of $5,220 in a private placement that closed on October 18, 2021. The 2021 Promissory Note was sold with an original issue discount of $200 and we paid at closing issuance costs totaling $280. After deducting all transaction costs, net cash proceeds to the Company were $4,740. No interest will accrue on the 2021 Promissory Note unless and until the occurrence of an event of default (as defined in the 2021 Promissory Note). Beginning on January 15, 2022 and on the same day of each month thereafter until the 2021 Promissory Note is paid in full, we are required to make a monthly amortization payments in the amount of $574 until the maturity date of October 15, 2022. We may prepay any or all outstanding balance of the 2021 Promissory Note earlier than it is due with a prepayment premium of 110%. The prepayment premium also applies to the monthly amortization payments, which amounts to an effective interest rate of approximately 18%.
The 2021 Promissory Note had a principal balance of $3,654 and $5,220 and debt discount of $161 and $316 at March 31, 2022 and December 31, 2021, respectively.
Interest Expense
The following table sets forth interest expense for our various debt obligations included on the condensed consolidated statements of operations and comprehensive loss:
Three Months Ended March 31,
2022 2021
2021 Promissory Note $ 178  $ — 
2020 Convertible Notes —  452 
Accretion of debt discount - issuance costs 155 620
Accretion of debt discount - warrants — 1,029
All other debt and financing obligations 48 118
Total $ 381  $ 2,219 
Other Debt Obligations
Other than the 2021 Promissory Note referenced above, there have been no material changes to the terms and conditions of our other debt obligations, including the payments in full thereof, since the filing of our Annual Report on Form 10-K. See Note 9, Debt, in our Annual Report on Form 10-K filed with the SEC on April 7, 2022.