Desktop Metal, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

DEBT (Tables)

9 Months Ended

Sep. 30, 2024

The 2027 Notes are valued as a single liability measured at amortized cost, which approximates fair value, as no other features require bifurcation and recognition as derivatives. The following table presents the outstanding principal amount and carrying value of the 2027 Notes as of the date indicated (in thousands):


	September 30,		December 31,
	2024		2023
Principal	$	115,000	$	115,000
Unamortized debt discount		(1,698)		(1,924)
Unamortized debt issuance costs		(189)		(511)
Net carrying value	$	113,113	$	112,565

Schedule of interest expense on debt

The annual effective interest rate for the 2027 Notes was approximately 6.1%. Interest expense related to the 2027 Notes for the periods presented below are as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Coupon interest	$	1,169	$	1,763	$	2,913	$	5,232
Amortization of debt discount		144		144		288		432
Amortization of transaction costs		38		38		76		114
Total interest expense	$	1,351	$	1,945	$	3,277	$	5,778

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details