From Mannkind’s 10Q

On July 1, 2013, we entered into the Facility Agreement with Deerfield, which purchased $40.0 million in 9.75% senior secured convertible notes due 2019 (the "2019 notes"), the purchase price for which was $21.1 million as a result of the original issue discount, and have committed to purchase up to an additional $120.0 million of 2019 notes subject to satisfaction of certain conditions. There can be no assurance that the conditions required for the additional $120 million of borrowings will be met or met in a timeframe necessary to support our liquidity needs.

I didn’t realize that the first $40 million tranche was purchased at an $18.9 million discount. Ouch!