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Facility Agreement (Tables)
 9 Months Ended
Sep. 30, 2014
Components of Facility Financing Agreement

The significant activity related to the Facility Agreement during the nine months ended September 30, 2014 consisted of the following (in thousands):

 

     September 30,
2014		  

Facility financing obligation

   

Carrying value at December 31, 2013

    $ 102,300   

Principal converted to equity

      (93,500 ) 

Accretion of debt discount and debt issuance expense

      7,507   

Adjustment to debt discount related to modification of the 2019 notes

      2,921   

Tranche B principal amount

      20,000   

Debt discount related to Tranche B purchase

      (1,168 ) 

Tranche 4 principal amount

      40,000   

Debt discount related to Tranche 4 purchase

      (5,435 ) 
  

 

 

  

Net carrying value of facility financing obligation

    $ 72,625   
  

 

 

  

Commitment Asset

   

Commitment asset balance at December 31,2013

    $ 5,157   

Tranche B commitment asset fair value

      2,921   

Less commitment asset portion associated with the receipt of Tranche 4 and Tranche B notes

      (6,325 ) 
  

 

 

  

Commitment asset value included in other assets

    $ 1,753   
  

 

 

  
Accretion of Debt Issuance Cost and Debt Discount

Accretion of debt issuance cost and debt discount in connection with the Facility Agreement during the three and nine months ended September 30, 2014 were as follows (in thousands):

 

     Three months ended
September 30, 2014		      Nine months ended
September 30, 2014		  

Accretion expense- debt issuance cost

    $ 9       $ 318   

Accretion expense- debt discount

    $ 306       $ 7,189