Company: SKLZ
Filing Date: 2025-12-11
Form Type: 10-Q
Source: 0001801661-25-000072
Chunk: 32

Company: Skillz Inc.
Filing Date: 2025-12-11
Form: 10-Q
Item: Item 1
Chunk 32
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 $— As of December 31, 2024 Adjusted Cost BasisUnrealized GainsUnrealized LossesFair ValueCash and Cash EquivalentsMarketable Securities -CurrentMarketable Securities -Non-currentMoney market funds$251,948 $— $— $251,948 $251,948 $— $— Total investments$251,948 $— $— $251,948 $251,948 $— $— 

7. Long-Term Debt

Long-term debt consisted of the following as of September 30, 2025 and December 31, 2024:September 30,December 31,202520242021 Senior Secured Notes$129,671 $129,671 

15

TABLE OF CONTENTSSKILLZ INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited, amounts in tables are in thousands, unless otherwise noted)

Unamortized discount and issuance costs(2,588)(4,017)Long-term debt, net$127,083 $125,654 2021 Senior Secured NotesOn December 20, 2021, the Company entered into $300 million of 10.25% secured notes (the “2021 Senior Secured Notes”) in a private placement to certain institutional buyers. The 2021 Senior Secured Notes are guaranteed by the Company’s domestic restricted subsidiaries. The interest is payable semiannually on June 15 and December 15 of each year, beginning on June 15, 2022. At issuance, the effective interest rate on the 2021 Senior Secured Notes was 12.14%, and maturity will be on December 15, 2026, unless repurchased or redeemed earlier.   On April 13, 2023, the Company repurchased approximately $159.8 million of its senior secured notes. In connection with the repurchase, the Company’s recognized a gain on extinguishment of $15.2 million on the condensed consolidated statements of operations and comprehensive loss. The gain primarily reflected the payment discounts as the notes were redeemed for total consideration below the par value of the notes as well as the write-off of unamortized debt issuance costs and discounts. After giving effect to the 2023 and other previous open market repurchases, as of September 30, 2025 and December 31, 2024, $