Quarterly report pursuant to Section 13 or 15(d)

Convertible Notes and PPP Term Note (Tables)

v3.21.2
Convertible Notes and PPP Term Note (Tables)
6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Fair Value, Liabilities Measured on Recurring Basis
The following table sets forth a reconciliation of the fair value of the 2024 Notes:
June 30, 2021
Balance, December 31, 2020 $ 197,700,000 
Change in fair value (1) (15,500,000)
Change in fair value attributable to credit risk (2) — 
Balance, March 31, 2021 182,200,000 
Change in fair value (1) 8,500,000 
Change in fair value attributable to credit risk (2) 10,200,000 
Balance, June 30, 2021 $ 200,900,000 
(1) The change in fair value of the 2024 Notes was primarily driven by changes in our stock price during the periods presented. The Company recognized the changes in fair value in Interest (Income) Expense.
(2) The change in fair value of the 2024 Notes attributable to credit risk is primarily due to moderate improvements in the Company’s synthetic credit rating. The Company recognized the change in fair value attributable to credit risk in Other Comprehensive Loss.