v3.21.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (47,905) $ (210,429)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:    
Depreciation and amortization 27,922 65,759
Change in fair value of warrant liabilities 5,235 (6,972)
Impairment of long-lived assets 147,543
Provision for losses on accounts receivable 9 9,031
Provision for losses on inventory obsolescence 2,428 603
Loss (gain) on disposal of assets (10,110) 5,852
Convertible senior notes converted into sales of patent licenses (22,500)  
Amortization of debt discount, premium and issuance costs 5,131 3,372
Paid-in-kind interest on convertible senior notes 4,827  
Gain on extinguishment of debt, net 5,806  
Share-based compensation expense 9,517 4,519
Changes in assets and liabilities:    
Accounts receivable 6,022 34,096
Inventory (34) 1,128
Prepaids and other current assets (6,649) 5,979
Accounts payable 3,408 (22,375)
Accrued liabilities (3,213) (8,360)
Accrued interest 11,465 (10,657)
Net cash provided by (used in) operating activities (20,253) 19,089
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (47,565) (43,948)
Proceeds from sale of property and equipment and insurance proceeds from damaged property and equipment 32,933 15,778
Net cash used in investing activities (14,632) (28,170)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 28,589 25,723
Repayments of revolving credit facility (29,950) (51,034)
Proceeds from issuance of long-term debt 3,004 10,000
Repayments of long-term debt (44,896) (2,500)
Payment of fees related to debt extinguishment (523)  
Proceeds from issuance of convertible senior notes 97,500  
Proceeds from issuance of notes payable 9,139  
Repayments of notes payable (6,289) (6,201)
Repayments of amounts under equipment financing (2,656) (2,349)
Principal payments under capital lease obligations (205) (4,272)
Proceeds from issuance of common stock, net 13,562 19,596
Deferred financing costs (7,057) (20,248)
Net cash provided by (used in) financing activities 60,218 (31,285)
Net increase (decrease) in cash and cash equivalents and restricted cash 25,333 (40,366)
Cash and cash equivalents and restricted cash, beginning of period 5,262 41,404
Cash and cash equivalents and restricted cash, end of period 30,595 1,038
Supplemental cash flow disclosure:    
Interest paid 2,004 25,865
Income tax paid 0 144
Non-cash investing and financing activities:    
Exchange of Series A preferred stock for convertible senior notes 24,780  
Deemed and imputed dividends on preferred stock 750 12,578
Changes in accrued and unpaid capital expenditures 6,316 12,149
Assets under capital lease obligations 1,769  
Common Class A [Member]    
Non-cash investing and financing activities:    
Issuance of stock to senior secured term loan lenders 0 1,438
Series B Redeemable Convertible Preferred Stock [Member]    
Non-cash investing and financing activities:    
Issuance of stock to senior secured term loan lenders 0 1,050
Conversion of preferred stock to Class A common stock 27,277  
Deemed and imputed dividends on preferred stock 7,178  
Dividends accrued on preferred stock 4,591 1,347
Series A Redeemable Convertible Preferred Stock [Member]    
Non-cash investing and financing activities:    
Conversion of preferred stock to Class A common stock 0 2,895
Deemed and imputed dividends on preferred stock 750 12,578
Dividends accrued on preferred stock $ 4,808 $ 5,450

Source