Quarterly report pursuant to Section 13 or 15(d)

Note Receivable

v3.21.1
Note Receivable
3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Note Receivable

11. Note Receivable

 

On October 1, 2018, the Company completed the sale of its spine implant business to CTL Medical. The sale included a $6.0 million noninterest bearing note receivable payable over a 36 month term and matures on October 1, 2021. The note receivable includes an imputed interest rate of 10%. As of March 31, 2021, the net carrying value of the note receivable was $1.3 million, with expected cash proceeds of $1.4 million to the Company through the maturity date.