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Subsequent events
9 Months Ended
Sep. 30, 2013
Subsequent events

13. Subsequent events

In October 2013, the Company received an additional $45.0 million in cash proceeds from the exercise of the October 2012 public offering warrants and $78.0 million of consideration from The Mann Group in the form of cancelled principal indebtedness under the Company’s loan arrangement with The Mann Group as payment for the aggregate exercise price of The Mann Group Warrants.

On October 31, 2013, the Company’s loan arrangement with The Mann Group was amended to, among other things, extend the maturity date of the loan to January 5, 2020, extend the date through which the Company can borrow under the loan arrangement to December 31, 2019, increase the aggregate borrowing amount under the loan arrangement from $350.0 million to $370.0 million, provide that repayments or cancellations of principal under the loan arrangement will not be available for reborrowing, and to cancel $78.0 million of principal indebtedness under the loan arrangement as payment for the aggregate exercise price of The Mann Group Warrants. In addition, the Company and The Mann Group agreed to capitalize into principal $7.9 million of accrued interest that became due and payable upon cancellation of the $78.0 million of principal indebtedness.