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Note Payable
3 Months Ended
Mar. 31, 2022
Note Payable  
Note Payable

Note 10. Note Payable

In connection with the acquisition of CRYOPDP, the Company assumed an interest free unsecured note payable of €4.0 million ($4.5 million) repayable in two installments. The first installment of €3.0 million ($3.4 million) was paid in December 2021 and the second installment of €1.0 million ($1.1 million) is to be repaid no later than December 31, 2022. A fair market value discount of €0.2 million ($0.3 million) was recorded and is amortized to interest expense using the effective interest method over the term of the note. During the three months ended March 31, 2022 and 2021, the Company amortized €0.01 million ($0.01 million) and €0.06 million ($0.07 million), respectively, of the debt discount to interest expense for this note.