Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2020
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 13—SUBSEQUENT EVENTS

The Company entered into a Fourth Amendment to the MidCap Facility that, effective as of August 1, 2020, among other things, (a) extended the payment terms of certain deferred origination fees scheduled to expire on October 11, 2020 and October 11, 2021, respectively; provided that no such fee shall be payable within 90 days of the maturity date, and (b) increased the concentration limit under the borrowing base for certain accounts receivable to 60% through August 1, 2021, and 50% at all times thereafter. This increased availability under the borrowing base will enable the Company to maintain sufficient liquidity to accommodate its growth initiatives and better scale its operations in order to meet increased customer demand for its services.