Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

v3.19.2
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Changes in the Fair value of Level 3 valuation for Warrant liability
The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuations for the warrant liability for the nine months ended December 31, 2018 and 2017 (in thousands):
 
         
   
Warrant liability
  
Balance, March 31, 2018
   $ 272  
Issuances
     5,682  
Settlements
     (176 ) 
Changes in fair value
     (942 )
Balance, December 31, 2018
   $ 4,836  
 
 
 
 
 
Balance, March 31, 2017
   $ —    
Issuances
     1,772  
Settlements
     (1,063 ) 
Changes in fair value
     33  
Balance, December 31, 2017
   $ 742  
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments
The carrying value and fair value of the financial liabilities were primarily comprised of the following as of December 31, 2018 and March 31, 2018 (in thousands):
 
                                 
   
As of
  
   
December 31, 2018
    
March 31, 2018
  
   
Carrying
Value
    
Fair Value
    
Carrying
Value
    
Fair Value
  
Long term debt:
(1)
                                
TCW Term Loan
   $ —       $ —       $ 90,424     $ 90,424  
PNC Credit Facility
     —       —       33,107       27,323  
Senior Secured Term Loan
     150,000       150,000       —       —  
Total long-term debt
   $ 150,000     $ 150,000     $ 123,531     $ 117,747  
 
(1)
 
Fair value based on outstanding borrowings and market interest rates (level 2)