Veru 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

Jun. 30, 2022


	June 30,		September 30,
	2022		2021

Residual royalty agreement liability, fair value at inception	$	346,000	$	346,000
Add: accretion of liability using effective interest rate		9,138,587		5,582,110
Less: cumulative payments		(3,285,262)		(1,144,763)
Residual royalty agreement liability, excluding embedded derivative liability		6,199,325		4,783,347
Add: embedded derivative liability at fair value (see Note 3)		8,408,000		7,851,000
Total residual royalty agreement liability		14,607,325		12,634,347
Residual royalty agreement liability, short-term portion		(3,050,135)		(3,237,211)
Residual royalty agreement liability, long-term portion	$	11,557,190	$	9,397,136

Credit Agreement Interest Expense


	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2022		2021		2022		2021

Amortization of discounts	$	—	$	327,550	$	—	$	1,400,039
Accretion of residual royalty agreement		1,185,093		952,276		3,556,477		2,295,313
Amortization of deferred issuance costs		—		7,699		—		32,907
Interest expense	$	1,185,093	$	1,287,525	$	3,556,477	$	3,728,259

- 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.

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+ Details