Note 9 – Deferred Debt Issuance Costs

Deferred debt issuance costs consist of the following (in thousands):

SLOC

For the years ended December 31, 2023 and 2022, the Company recognized amortization expense of approximately $0.2 million and $0.1 million, respectively.

Equity line of credit

In July 2023, the Company entered into the equity line of credit (“ELOC”) for the right to sell common stock shares to an investor and recorded deferred debt issuance costs of approximately $0.6 million. For the year ended December 31, 2023, the Company recognized amortization expense of approximately $0.1 million.

Line of Credit

In February 2023, the Company entered into its line of credit and recorded deferred debt issuance costs of approximately $9.9 million. During the year ended December 31, 2023, the Company recognized amortization expense of approximately $8.9 million. During the year ended December 31, 2023, in connection with the $2.4 million drawdown and issuance of the convertible promissory notes, the Company recognized amortization expense of approximately $0.2 million.