Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 51

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 16
Chunk 51
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2023

        Fair value of Neo Medical Convertible Loans at January 1
         
        $
        6,760

        $
        7,140

        Gains (losses) recognized in other comprehensive income (loss)

        1,671

        (1,233
        )

        Interest recognized in interest income, net

        162

        496

        Foreign currency remeasurement recognized in other income (expense), net

        (629
        )

        617

        Expected credit loss recognized in other income (expense), net

        260

        (260
        )

        Conversion into preferred equity securities

        (8,224
        )

        —

        Fair value of Neo Medical Convertible Loans at December 31
         
        $
        —

        $
        6,760

        Contractual value of Neo Medical Convertible Loans at December 31
         
        $
        —

        $
        7,020

        Allowance for credit loss recognized in other expense, net

        —

        (260
        )

        Amortized cost basis of Neo Medical Convertible Loans at December 31
         
        $
        —

        $
        6,760

      Bone Biologics Equity SecuritiesUntil August of 2022, the Company held an investment in common stock of Bone Biologics Inc. ("Bone Biologics"), a developer of orthobiologic products. Bone Biologics’ common stock is actively traded on the NASDAQ (ticker BBLG). The Company concluded the investment represented a Level 1 fair value measurement subsequent to the public offering as the common shares subsequently 

F-23

had quoted prices in active markets for identical assets. As such, the Company recorded the investment at fair value, with changes in fair value recorded within other income (expense), net, subsequent to the public offering.The following table presents the changes in fair value recognized for each of the years ended December 31, 2024, 2023, and 2022:

        (U.S. Dollars, in thousands)
         
        2024

        2023

        2022

        Bone Biologics equity securities at January 1
         
        $
        —

        $
        —

        $
        309

        Fair value adjustments and impairments recognized in other expense, net

        —

        —

        (183
        )

        Proceeds from the disposition of equity securities

        —