XML 29 R11.htm IDEA: XBRL DOCUMENT v3.2.0.727
Convertible Bridge Note with Related Party
3 Months Ended
Mar. 31, 2015
Convertible Bridge Note with Related Party  
Convertible Bridge Note with Related Party

5. Convertible Bridge Note with Related Party

 

In November and December 2014 the Company entered into a Note Purchase Agreement (the “Bridge Notes”) allowing for the issuance of $5,000 of convertible promissory notes to a group of investors (the “Holders”) bearing interest at a rate per annum of 6.0%. The Holders are related parties of the Company. All notes become due and payable at the earlier to occur of a qualified financing, a deemed liquidation event and November 2015.  In connection with the Series D convertible preferred stock financing (see note 6), the Bridge Notes converted into Series D convertible preferred stock.  Upon the conversion, the Company recognized a gain on extinguishment of $91.