SEC Info - Mimedx Group, Inc. - ‘10-K’ for 12/31/15

Mimedx Group, Inc. – ‘10-K’ for 12/31/15 – ‘R16’

On: Monday, 2/29/16, at 4:25pm ET · For: 12/31/15 · Accession #: 1376339-16-138 · File #: 1-35887

Document/Exhibit Description Pages Size 1: 10-K Annual Report HTML 787K 2: EX-21.1 Subsidiaries List HTML 22K 3: EX-23.1 Consent of Experts or Counsel HTML 24K 4: EX-31.1 Certification -- §302 - SOA'02 HTML 30K 5: EX-31.2 Certification -- §302 - SOA'02 HTML 30K 6: EX-32.1 Certification -- §906 - SOA'02 HTML 25K 7: EX-32.2 Certification -- §906 - SOA'02 HTML 25K 14: R1 Document and Entity Information HTML 51K 15: R2 Consolidated Balance Sheets HTML 100K 16: R3 Consolidated Balance Sheets (Parenthetical) HTML 46K 17: R4 Consolidated Statements of Operations HTML 75K 18: R5 Consolidated Statements of Stockholders' Equity HTML 106K 19: R6 Consolidated Statements of Stockholders' Equity HTML 27K (Parenthetical) 20: R7 Consolidated Statements of Cash Flows HTML 108K 21: R8 Nature of Business HTML 28K 22: R9 Significant Accounting Policies HTML 66K 23: R10 Liquidity and Capital Resources HTML 28K 24: R11 Cash Equivalents and Short Term Investments HTML 26K 25: R12 Inventories HTML 37K 26: R13 Investments HTML 25K 27: R14 Property and Equipment HTML 41K 28: R15 Intangible Assets and Royalty Agreement HTML 63K 29: R16 Long-Term Debt HTML 33K 30: R17 Net Income (loss) Per Share HTML 50K 31: R18 Common Stock Placements HTML 32K 32: R19 Equity HTML 138K 33: R20 Income Taxes HTML 92K 34: R21 Supplemental Disclosure of Cash Flow and Non-Cash HTML 54K Investing and Financing Activities 35: R22 401k Plan HTML 29K 36: R23 Commitments and Contingencies HTML 63K 37: R24 Quarterly Financial Data (Unaudited) HTML 93K 38: R25 Subsequent Events HTML 28K 39: R26 Schedule II - Valuation and Qualifying Accounts HTML 71K 40: R27 Significant Accounting Policies (Policies) HTML 129K 41: R28 Inventories (Tables) HTML 36K 42: R29 Property and Equipment (Tables) HTML 38K 43: R30 Intangible Assets and Royalty Agreement (Tables) HTML 63K 44: R31 Net Income (loss) Per Share (Tables) HTML 51K 45: R32 Equity (Tables) HTML 137K 46: R33 Income Taxes (Tables) HTML 86K 47: R34 Supplemental Disclosure of Cash Flow and Non-Cash HTML 53K Investing and Financing Activities (Tables) 48: R35 Commitments and Contingencies (Tables) HTML 31K 49: R36 Quarterly Financial Data (Unaudited) (Tables) HTML 91K 50: R37 Nature of Business (Details) HTML 25K 51: R38 Significant Accounting Policies (Details) HTML 65K 52: R39 Liquidity and Capital Resources (Details) HTML 46K 53: R40 Cash Equivalents and Short Term Investments HTML 33K (Details) 54: R41 Inventories (Details) HTML 37K 55: R42 Investments (Details) HTML 27K 56: R43 Property and Equipment (Details) HTML 51K 57: R44 Intangible Assets and Royalty Agreement Intangible HTML 88K Asssets Activity Summary (Details) 58: R45 Intangible Assets and Royalty Agreement Expected HTML 39K Future Amortization of Intangible Assets (Details) 59: R46 Long-Term Debt (Details) HTML 79K 60: R47 Net Income (loss) Per Share Computation of Basic HTML 50K and Dilutive Net Loss per Share (Details) 61: R48 Net Income (loss) Per Share Summary of HTML 35K Antidilutive Securities (Details) 62: R49 Common Stock Placements (Details) HTML 33K 63: R50 Equity Narrative (Details) HTML 83K 64: R51 Equity Activity of Stock Options (Details) HTML 78K 65: R52 Equity Exercise Price Ranges (Details) HTML 75K 66: R53 Equity Summary of Unvested Stock Options (Details) HTML 43K 67: R54 Equity Assumptions (Details) HTML 40K 68: R55 Equity Summary of Restricted Stock Awards HTML 48K (Details) 69: R56 Equity Recognized Stock-Based Compensation HTML 33K (Details) 70: R57 Income Taxes Deferred Tax Assets and Liabilities HTML 51K (Details) 71: R58 Income Taxes Reconciliation of the Federal HTML 47K Statutory Income Tax (Details) 72: R59 Income Taxes Schedule of current and deferred HTML 49K income tax expense (Benefit) (Details) 73: R60 Income Taxes Reconciliation of unrecognized tax HTML 28K benefits (Details) 74: R61 Income Taxes Narrative (Details) HTML 50K 75: R62 Supplemental Disclosure of Cash Flow and Non-Cash HTML 61K Investing and Financing Activities (Details) 76: R63 401k Plan (Details) HTML 36K 77: R64 Commitments and Contingencies Estimated Annual HTML 34K Lease, Royalty, and Employment Agreement Expenses (Details) 78: R65 Commitments and Contingencies Narrative (Details) HTML 65K 79: R66 Quarterly Financial Data (Unaudited) (Details) HTML 46K 80: R67 Subsequent Events (Details) HTML 42K 81: R68 Schedule II - Valuation and Qualifying Accounts HTML 40K (Details) 83: XML IDEA XML File -- Filing Summary XML 142K 82: EXCEL IDEA Workbook of Financial Reports XLSX 93K 8: EX-101.INS XBRL Instance -- mdxg-20151231 XML 1.89M 10: EX-101.CAL XBRL Calculations -- mdxg-20151231_cal XML 205K 11: EX-101.DEF XBRL Definitions -- mdxg-20151231_def XML 539K 12: EX-101.LAB XBRL Labels -- mdxg-20151231_lab XML 1.71M 13: EX-101.PRE XBRL Presentations -- mdxg-20151231_pre XML 937K 9: EX-101.SCH XBRL Schema -- mdxg-20151231 XSD 149K 84: ZIP XBRL Zipped Folder -- 0001376339-16-000138-xbrl Zip 224K

Long-Term Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Long-Term Debt

Senior Secured Promissory Notes

From December 27 to December 31, 2011, the Company sold 5% Convertible Senior Secured Promissory Notes (the “Notes”) to individual accredited investors for aggregate proceeds of $5,000,000. The aggregate proceeds included $500,000 of Notes sold to the Company’s Chairman of the Board and CEO. In total, the principal of the Notes were convertible into up to 5,000,000 shares of common stock of the Company (“Common Stock”) plus accrued but unpaid interest at $1.00 per share at any time upon the election of the holder of the note.

In conjunction with the sale of the Notes, the Company incurred a placement fee of $32,800 and issued 42,400 common stock warrants to the placement agents at an exercise price of $1.09 per share. These warrants were exercised in November 2015. The fair value of the warrants was determined to be approximately $15,000 using the Black-Scholes-Merton valuation technique. The total direct costs of approximately $47,800 were recorded as deferred financing costs and were amortized over the term of the Notes using the effective interest method. Further, the placement agent warrants are classified in stockholders’ equity because they achieved all of the requisite conditions for equity classification in accordance with GAAP.

During the months of January and February 2013, all holders of the Notes converted their interest in this obligation to shares of MiMedx common stock. The total amount of debt plus accrued interest that was exchanged was approximately $5,272,000. In conjunction with this exchange, approximately 5,272,000 shares of the Company’s common stock were issued in full satisfaction of this obligation. Included in this total are 532,260 shares representing the CEO’s conversion of his Note. This also resulted in the acceleration of amortization of debt discount and total interest expense of approximately $1,328,000 during the year ended December 31, 2013.

Credit Facility

On October 12, 2015, the Company and its subsidiaries entered into a Credit Agreement (the "Credit Agreement") with certain lenders and Bank of America, N.A., as administrative agent. The Credit Agreement establishes a senior secured revolving credit facility in favor of the Company with a maturity date of October 12, 2018 and an aggregate lender commitment of up to $50 million. The Credit Agreement also provides for an uncommitted incremental facility of up to $35 million, which can be exercised as one or more revolving commitment increases or new term loans, all subject to certain customary terms and conditions set forth in the Credit Agreement. Borrowings under the facility will bear interest at LIBOR plus 1.5% to 2.25%. Fees paid in connection with the initiation of the credit facility totaled approximately $500,000. These deferred financing costs are being amortized to interest expense over the three-year life of the facility. The Credit Agreement contains customary representations, warranties, covenants, and events of default. As of December 31, 2015, there were no outstanding revolving loans under the credit facility.

This ‘10-K’ Filing

Date

Other Filings

10/12/18

Filed on:

2/29/16

For Period end:

12/31/15

10/12/15

12/31/13

12/31/11

List all Filings

As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/25/17 SEC UPLOAD¶ 9/28/17 1:41K Mimedx Group, Inc. 1/09/17 SEC UPLOAD¶ 9/28/17 1:41K Mimedx Group, Inc. 12/06/16 SEC UPLOAD¶ 9/28/17 1:139K Mimedx Group, Inc. 10/31/16 SEC UPLOAD¶ 9/28/17 1:169K Mimedx Group, Inc.

Mimedx Group, Inc. – ‘10-K’ for 12/31/15 – ‘R16’

On: Monday, 2/29/16, at 4:25pm ET · For: 12/31/15 · Accession #: 1376339-16-138 · File #: 1-35887

Previous ‘10-K’: ‘10-K’ on 3/13/15 for 12/31/14 · Next: ‘10-K/A’ on 2/22/17 for 12/31/15 · Latest: ‘10-K’ on 2/28/24 for 12/31/23 · 4 References:

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

‘R16’ — Long-Term Debt

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

4 Subsequent Filings that Reference this Filing

Mimedx Group, Inc. – ‘10-K’ for 12/31/15 – ‘R16’

On: Monday, 2/29/16, at 4:25pm ET · For: 12/31/15 · Accession #: 1376339-16-138 · File #: 1-35887

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34Filing Table of Contents

‘R16’ — Long-Term Debt

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

4 Subsequent Filings that Reference this Filing

Annual Report — Form 10-K — Sect. 13 / 15(d) – SEA’34
Filing Table of Contents