Company: PCRX
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001396814-25-000102
Chunk: 167

Company: Pacira BioSciences, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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, following the expiration of the offer to purchase, the Company accepted the $192.6 million aggregate principal amount of Flexion 2024 Notes that were validly tendered (and not validly withdrawn). No Flexion 2024 Notes were converted in connection with the Notice. The remaining principal of $8.6 million was repaid at maturity on May 1, 2024. 

Pacira BioSciences, Inc.  |  Q2 2025 Form 10-Q  |  Page 22

Interest ExpenseThe following table sets forth the total interest expense recognized in the periods presented (dollar amounts in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Contractual interest expense$3,823 $3,797 $7,685 $7,108 Amortization of debt issuance costs849 763 1,694 1,444 Amortization of debt discount23 23 45 47 Capitalized interest (Note 6)— (699)(149)(1,399)        Total$4,695 $3,884 $9,275 $7,200 Effective interest rate on total debt3.09 %2.99 %3.10 %2.98 %

NOTE 10—FINANCIAL INSTRUMENTS

Fair Value MeasurementsFair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in the principal or most advantageous market in an orderly transaction. To increase consistency and comparability in fair value measurements, the FASB established a three-level hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of fair value measurements are:•Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.•Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.•Level 3: Unobservable inputs that are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs.The carrying value of financial instruments including cash and cash equivalents, accounts receivable and accounts payable approximate their respective fair values due to the short-term nature of these items. The fair