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Debt - Related Party
9 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Debt - Related Party

On November 29, 2018, Aytu issued a $5.0 million promissory note (the “Note”) to Armistice Capital Master Fund Ltd. (“Armistice”). The Note was collateralized by the future revenue stream from the products licensed to the Company under the Tris License Agreement between the Company and TRIS. The Note carried an annual interest rate of 8% and had a three-year term with principal and interest payable at maturity. The Company had the right, in its sole discretion, to repay the Note without penalty at any time after December 29, 2018. For the quarter ended March 31, 2019, the Company did not exercised the early repayment option. Subsequent to March 31, 2019, the Company exchanged the Note for a combination of common stock, preferred stock and warrants (see Note 12).

 

Interest expense for the Note for the three months ended March 31, 2019 and 2018 was $99,000 and $0, respectively. Interest expense for the Note for the nine months ended March 31, 2019 and 2018 was $135,000 and $0, respectively.