XML 76 R55.htm IDEA: XBRL DOCUMENT v3.10.0.1
Debt - Additional Information (Detail)
1 Months Ended 12 Months Ended
Apr. 27, 2017
Dec. 30, 2016
USD ($)
Jul. 31, 2017
USD ($)
Tranche
Dec. 31, 2018
Cerus Term Loans        
Debt Instrument [Line Items]        
Term loan, face amount   $ 20,000,000    
Term of agreement   5 years    
Maturity period       Jun. 01, 2019
Principal and interest payments 18 months      
Terms of required periodic payments of interest and principal       On April 27, 2017, the Term Loan Agreement was amended to include an additional interest-only period under the Term Loan Agreement. As amended, the Company was required to make interest only payments from May 2017 through December 2017, followed by eighteen months of equal principal and interest payments thereafter. The Company was also required to make a final payment equal to 7% of the principal amounts drawn payable on the earlier to occur of maturity or prepayment.
Final payment term percent 7.00%      
Cerus Amended Credit Agreement | 2017 Term Loans        
Debt Instrument [Line Items]        
Term loan, face amount     $ 40,000,000  
Percentage of investments made in subsidiary     35.00%  
Number of loan tranches | Tranche     2  
Repay in full all of outstanding term loans     $ 1,400,000  
Terms of required periodic payments of interest and principal       The Amended Credit Agreement provided for secured growth capital term loans of up to $40.0 million (the “2017 Term Loans”). All of the Company’s current and future assets, excluding its intellectual property and 35% of the Company’s investment in Cerus Europe B.V., are secured for its borrowings under the Amended Credit Agreement. The 2017 Term Loans were available in two tranches. The first tranche of $30.0 million (“2017 Term Loan A”) was drawn by the Company on July 31, 2017, with the proceeds used in part to repay in full all of the outstanding term loans under the Term Loan Agreement of $17.6 million and the final payment of the Term Loan Agreement of $1.4 million. The availability of the second tranche of $10.0 million (“2017 Term Loan B”) expired on May 14, 2018, and the Company did not elect to draw the 2017 Term Loan B.
Interest rate, description       The 2017 Term Loan A bears interest at a rate equal to the greater of (i) 8.01% and (ii) the three-month U.S. LIBOR rate plus 6.72%. The interest rate on the 2017 Term Loan A at December 31, 2018 was approximately 9.53%. The Company will also be required to make a final payment fee of 8.00% of the principal amounts of the 2017 Term Loan A. The Amended Credit Agreement contains certain nonfinancial covenants, with which the Company was in compliance at December 31, 2018
Cerus Amended Credit Agreement | 2017 Term Loans | Three-month U.S. LIBOR        
Debt Instrument [Line Items]        
Debt, applicable margin     6.72%  
First Tranche (Term Loan A) | Cerus Amended Credit Agreement | 2017 Term Loans        
Debt Instrument [Line Items]        
Term loan, face amount     $ 30,000,000  
Final payment term percent     8.00%  
Repay in full all of outstanding term loans     $ 17,600,000  
Interest rate       9.53%
First Tranche (Term Loan A) | Cerus Amended Credit Agreement | 2017 Term Loans | Minimum        
Debt Instrument [Line Items]        
Debt instrument floating interest rate percentage     8.01%  
Second Tranche (Term Loan B) | Cerus Amended Credit Agreement | 2017 Term Loans        
Debt Instrument [Line Items]        
Loan and security agreement available upon revenue achievement     $ 10,000,000  
Expiration date to draw second tranche     May 14, 2018