Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 62

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 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 value of the Company’s convertible senior notes and its TLA Term Loan are calculated utilizing market quotations from an over-the-counter trading market for these notes (Level 2). The fair value of the Company’s acquisition-related contingent consideration is reported at fair value on a recurring basis (Level 3). The carrying amounts of equity investments and convertible notes receivable without readily determinable fair values have not been adjusted for either an impairment or upward or downward adjustments based on observable transactions. 

Pacira BioSciences, Inc.  |  Q1 2025 Form 10-Q  |  Page 21

At March 31, 2025, the carrying values and fair values of the following financial assets and liabilities were as follows (in thousands):Carrying ValueFair Value Measurements UsingLevel 1Level 2Level 3Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis:Financial Assets:Equity investments$11,750 $— $— $11,750 Convertible notes receivable$8,250 $— $— $8,250 Financial Liabilities:   Acquisition-related contingent consideration$17,566 $— $— $17,566 Financial Liabilities Measured at Amortized Cost:Term loan A facility due March 2028$101,489 $— $101,988 $—    2.125% convertible senior notes due 2029 (1)$279,801 $— $279,594 $—    0.750% convertible senior notes due 2025 (2)$202,086 $— $199,716 $— (1) The closing price of the Company’s common stock as reported on the Nasdaq Global Select Market was $24.85 per share on March 31, 2025, compared to a conversion price of $39.56 per share. At March 31, 2025, as the conversion price was above the stock price, the requirements for conversion have not been met. (2) As of February 3, 2025, the 2025 Notes may be converted at any time until the close of business