on february 13 , 2020 , we repaid in full our outstanding aggregate principal amount of senior secured notes ( senior notes ) pursuant to a note purchase agreement dated march 12 , 2015 ( note purchase agreement ) and all subsequent amendments to the note purchase agreement . as a result , for the year ended december 31 , 2020 , we recognized a loss on debt extinguishment of the senior notes of $ 8.2 million composed of the $ 4.9 million prepayment fee and $ 3.3 million of unamortized debt discount and debt issuance costs . on february 19 , 2020 , we entered into separate , privately negotiated agreements with a limited number of holders of the 2021 notes and 2024 notes to repurchase approximately $ 188.0 million aggregate principal amount of the outstanding 2021 notes and 2024 notes . on april 8 , 2020 , we announced the completion of its cash tender offers , initiated on march 11 , 2020 , in which we settled approximately $ 76.7 million aggregate principal amount of the remaining $ 77.0 million of combined outstanding 2021 notes and 2024 notes . as a result of both transactions , for the year ended december 31 , 2020 , we recognized a $ 47.9 million loss on debt extinguishment of the convertible notes , which represented the difference between the carrying value and the fair value of the convertible notes just prior to the repurchase plus transaction costs . we also recognized reacquisition of $ 19.6 million in additional paid-in capital related to the equity component of the convertible notes based on the excess of the fair value of total considerations provided against the fair value of the convertible notes just prior to the repurchase . in may 2020 , we sold our collegium warrants investment for an aggregate purchase price of $ 6.0 million to armistice capital mater fund , ltd. as a result , we derecognized the remaining carrying value of $ 6.5 million of the financial asset and recognized a net loss of approximately $ 0.5 million , recorded within other gain ( loss ) on the condensed consolidated statement of comprehensive income , for the year ended december 31 , 2020. on may 20 , 2020 , we completed a merger ( the zyla merger ) with zyla life sciences ( zyla ) pursuant to an agreement and plan of merger ( merger agreement ) , dated as of march 16 , 2020. upon consummation of the zyla merger , each issued and outstanding share of zyla common stock converted into 2.5 shares of assertio holding 's common stock ( the exchange ratio ) , and each outstanding option or warrant to purchase zyla common stock converted into the right to purchase shares of assertio 's common stock . pursuant to the zyla merger , we acquired indocin products , sprix , and oxaydo , as well as zorvolex® and vivlodex® ( which are collectively known as the solumatrix products ) . subsequent to the zyla merger in may 2020 , we began implementing reorganization plans of our workforce and other restructuring activities to realize the synergies of the zyla merger and to re-align resources to strategic areas and drive growth . the reorganization plan primarily focused on reduction of staff at our headquarters offices ( zyla merger reorganization ) . as a result , $ 5.6 million of severance and benefits costs , which included $ 1.0 million of stock-based compensation expense associated with equity modifications for certain executives , and $ 0.2 million of other exit costs were recognized as restructuring charges , related to the zyla merger , during the year ended december 31 , 2020. we do not expect to incur significant costs related to the zyla merger reorganization beyond 2020. in september 2020 , we terminated our second amended and restated nano-reformulated compound license agreement ( the “ iceutica license ” ) , with iceutica inc. and iceutica pty ltd. ( collectively , “ iceutica ” ) . the iceutica license allowed us to utilize certain technology and intellectual property related to iceutica 's solumatrix technology and certain other rights of iceutica . the intellectual property related to solumatrix technology will no longer be used by us and we will no longer manufacture products using solumatrix technology . on december 15 , 2020 , we announced a restructuring plan designed to substantially reduce our operating footprint through the reduction of our workforce ( the december 2020 plan ) . we believe the december 2020 plan will allow us to adapt to the current market environment by reducing costs and better positioning us to continue to provide our differentiated products to patients and maximize shareholder value . the reorganization plan included a reduction of staff at our headquarters office and remote sales force . as a result , $ 9.6 million of severance and benefits costs and $ 1.6 million of other exit costs for the write off of fixed assets no longer in use and the early termination of fleet leases , were recognized as restructuring charges , related to the december 2020 plan , during the year ended december 31 , 2020. we expect to substantially complete the workforce reduction by the end of the first quarter of 2021. on february 9 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 22,600,000 shares of our common stock at a purchase price of $ 0.62 per share . the gross proceeds from the 43 offering were approximately $ 14.0 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 13.1 million . on february 12 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 35,000,000 shares of our common stock at a purchase price of $ 0.98 per share . story_separator_special_tag goodwill under the purchase method of accounting pursuant to asc 805 , goodwill is calculated as the excess of the purchase price over the fair value of the assets acquired and liabilities assumed . goodwill is recognized within other long-term assets , and is not amortized but subject to an annual review for impairment . goodwill is tested for impairment at the reporting unit level at least annually or when a triggering event occurs that could indicate a potential impairment by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that the fair value of net assets are below their carrying amounts . a reporting unit is the same as , or one level below , an operating segment . our operations are currently comprised of a single reporting unit . as of december 31 , 2020 , we determined , due to declining revenues and a decrease in our market capitalization , that it is more likely than not that the fair value of net assets are below their carrying amounts and , therefore , we performed the required goodwill impairment test under asc 350 , intangibles - goodwill and other . first , we estimated the fair value of the reporting unit to which goodwill is assigned using a combination of the income and market approach . we then compared the carrying amount of the reporting unit , including goodwill , to its fair value . since the fair value was less than the reporting unit 's carrying amount , we calculated the goodwill impairment as the difference between the reporting unit 's fair value and the carrying amount , not to exceed the carrying amount of goodwill . accordingly , we recorded an impairment charge of $ 17.4 million , recognized within total costs and expenses in the consolidated statement of comprehensive income , to impair the carrying amount of goodwill as of december 31 , 2020. income taxes we record the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in our accompanying consolidated balance sheets , as well as operating loss and tax credit carryforwards . we follow the guidelines set forth in the applicable accounting guidance regarding the recoverability of any tax assets recorded on the consolidated balance sheet and provide any necessary allowances as required . determining necessary allowances requires us to make assessments about the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . when we determine that it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future , the deferred tax assets are reduced by a valuation allowance . the valuation allowance is sufficient to reduce the deferred tax assets to the amount that we determine is more likely than not to be realized . at this time , we have recorded a full valuation allowance against the net deferred tax assets . we are subject to examination of our income tax returns by various tax authorities on a periodic basis . we regularly assess the likelihood of adverse outcomes resulting from such examinations to determine the adequacy of our provision for income taxes . we have applied the provisions of the applicable accounting guidance on accounting for uncertainty in income taxes , which requires application of a more‑likely‑than‑not threshold to the recognition and de‑recognition of uncertain tax positions . if the recognition threshold is met , the applicable accounting guidance permits us to recognize a tax benefit measured at the largest amount of tax benefit that , in our judgment , is more than 50 percent likely to be realized upon settlement . it further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions be recognized in earnings in the period of such change . we recognize tax liabilities in accordance with asc topic 740 , tax provisions and we adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available . due to the complexity of some of these uncertainties , the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities . these differences will be reflected as increases or decreases to income tax expense in the period in which they are determined . 47 results of operations the following table reflects our results of operations for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_2_th 48 revenues the following table reflects total revenues for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_3_th ( 1 ) products acquired in connection with zyla merger represent product sales , net for the period may 20 , 2020 through december 31 , 2020 . ( 2 ) includes product sales for gralise , which was divested in january 2020 ; product sales adjustments for previously divested products nucynta and lazanda ; and , product sales for non-promoted products oxaydo and solumatrix , which were acquired from zyla in may 2020. product sales , net for the year ended december 31 , 2020 , product sales primarily consisted of sales from indocin products , cambia , zipsor and sprix . we began shipping and recognizing product sales for indocin products , sprix , and non-promoted products , oxaydo and solumatrix , upon the zyla merger on may 20 , 2020. cambia net product sales for the year ended december 31 , 2020 decreased $ 4.1 million as compared to the same period in 2019 primarily due to lower volume and unfavorable payor mix . zipsor net product sales for the year ended december 31 , 2020 increased $ 0.8 million as compared to the same period in 2019 primarily due to the effect of prior

liquidity and capital resources historically and through december 31 , 2020 , we have financed our operations and business development efforts primarily from product sales , private and public sales of equity securities , including convertible debt securities , the proceeds of secured borrowings , the sale of rights to future royalties and milestones , upfront license , milestone and fees from collaborative and license partners . on february 9 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 22,600,000 shares of our common stock at a purchase price of $ 0.62 per share . the gross proceeds from the offering were approximately $ 14.0 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 13.1 million . on february 12 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 35,000,000 shares of our common stock at a purchase price of $ 0.98 per share . the gross proceeds from the offering were approximately $ 34.3 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 32.2 million . we intend to use proceeds from both offerings for general corporate purposes , including general working capital . 53 on july 31 , 2020 , we voluntarily redeemed $ 10.0 million of aggregate principal plus accrued interest on our secured notes due 2024 , which was assumed as part of the zyla merger . additionally upon the close of the zyla merger , we assumed and immediately paid off a $ 3.0 million promissory note and a $ 10.0 million credit agreement .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources historically and through december 31 , 2020 , we have financed our operations and business development efforts primarily from product sales , private and public sales of equity securities , including convertible debt securities , the proceeds of secured borrowings , the sale of rights to future royalties and milestones , upfront license , milestone and fees from collaborative and license partners . on february 9 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 22,600,000 shares of our common stock at a purchase price of $ 0.62 per share . the gross proceeds from the offering were approximately $ 14.0 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 13.1 million . on february 12 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 35,000,000 shares of our common stock at a purchase price of $ 0.98 per share . the gross proceeds from the offering were approximately $ 34.3 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 32.2 million . we intend to use proceeds from both offerings for general corporate purposes , including general working capital . 53 on july 31 , 2020 , we voluntarily redeemed $ 10.0 million of aggregate principal plus accrued interest on our secured notes due 2024 , which was assumed as part of the zyla merger . additionally upon the close of the zyla merger , we assumed and immediately paid off a $ 3.0 million promissory note and a $ 10.0 million credit agreement .
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 Suspicious Activity Report : on february 13 , 2020 , we repaid in full our outstanding aggregate principal amount of senior secured notes ( senior notes ) pursuant to a note purchase agreement dated march 12 , 2015 ( note purchase agreement ) and all subsequent amendments to the note purchase agreement . as a result , for the year ended december 31 , 2020 , we recognized a loss on debt extinguishment of the senior notes of $ 8.2 million composed of the $ 4.9 million prepayment fee and $ 3.3 million of unamortized debt discount and debt issuance costs . on february 19 , 2020 , we entered into separate , privately negotiated agreements with a limited number of holders of the 2021 notes and 2024 notes to repurchase approximately $ 188.0 million aggregate principal amount of the outstanding 2021 notes and 2024 notes . on april 8 , 2020 , we announced the completion of its cash tender offers , initiated on march 11 , 2020 , in which we settled approximately $ 76.7 million aggregate principal amount of the remaining $ 77.0 million of combined outstanding 2021 notes and 2024 notes . as a result of both transactions , for the year ended december 31 , 2020 , we recognized a $ 47.9 million loss on debt extinguishment of the convertible notes , which represented the difference between the carrying value and the fair value of the convertible notes just prior to the repurchase plus transaction costs . we also recognized reacquisition of $ 19.6 million in additional paid-in capital related to the equity component of the convertible notes based on the excess of the fair value of total considerations provided against the fair value of the convertible notes just prior to the repurchase . in may 2020 , we sold our collegium warrants investment for an aggregate purchase price of $ 6.0 million to armistice capital mater fund , ltd. as a result , we derecognized the remaining carrying value of $ 6.5 million of the financial asset and recognized a net loss of approximately $ 0.5 million , recorded within other gain ( loss ) on the condensed consolidated statement of comprehensive income , for the year ended december 31 , 2020. on may 20 , 2020 , we completed a merger ( the zyla merger ) with zyla life sciences ( zyla ) pursuant to an agreement and plan of merger ( merger agreement ) , dated as of march 16 , 2020. upon consummation of the zyla merger , each issued and outstanding share of zyla common stock converted into 2.5 shares of assertio holding 's common stock ( the exchange ratio ) , and each outstanding option or warrant to purchase zyla common stock converted into the right to purchase shares of assertio 's common stock . pursuant to the zyla merger , we acquired indocin products , sprix , and oxaydo , as well as zorvolex® and vivlodex® ( which are collectively known as the solumatrix products ) . subsequent to the zyla merger in may 2020 , we began implementing reorganization plans of our workforce and other restructuring activities to realize the synergies of the zyla merger and to re-align resources to strategic areas and drive growth . the reorganization plan primarily focused on reduction of staff at our headquarters offices ( zyla merger reorganization ) . as a result , $ 5.6 million of severance and benefits costs , which included $ 1.0 million of stock-based compensation expense associated with equity modifications for certain executives , and $ 0.2 million of other exit costs were recognized as restructuring charges , related to the zyla merger , during the year ended december 31 , 2020. we do not expect to incur significant costs related to the zyla merger reorganization beyond 2020. in september 2020 , we terminated our second amended and restated nano-reformulated compound license agreement ( the “ iceutica license ” ) , with iceutica inc. and iceutica pty ltd. ( collectively , “ iceutica ” ) . the iceutica license allowed us to utilize certain technology and intellectual property related to iceutica 's solumatrix technology and certain other rights of iceutica . the intellectual property related to solumatrix technology will no longer be used by us and we will no longer manufacture products using solumatrix technology . on december 15 , 2020 , we announced a restructuring plan designed to substantially reduce our operating footprint through the reduction of our workforce ( the december 2020 plan ) . we believe the december 2020 plan will allow us to adapt to the current market environment by reducing costs and better positioning us to continue to provide our differentiated products to patients and maximize shareholder value . the reorganization plan included a reduction of staff at our headquarters office and remote sales force . as a result , $ 9.6 million of severance and benefits costs and $ 1.6 million of other exit costs for the write off of fixed assets no longer in use and the early termination of fleet leases , were recognized as restructuring charges , related to the december 2020 plan , during the year ended december 31 , 2020. we expect to substantially complete the workforce reduction by the end of the first quarter of 2021. on february 9 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 22,600,000 shares of our common stock at a purchase price of $ 0.62 per share . the gross proceeds from the 43 offering were approximately $ 14.0 million . after placement agent fees and other offering expenses payable by us , we received net proceeds of approximately $ 13.1 million . on february 12 , 2021 , we completed a registered direct offering with certain institutional investors and accredited investors to sell 35,000,000 shares of our common stock at a purchase price of $ 0.98 per share . story_separator_special_tag goodwill under the purchase method of accounting pursuant to asc 805 , goodwill is calculated as the excess of the purchase price over the fair value of the assets acquired and liabilities assumed . goodwill is recognized within other long-term assets , and is not amortized but subject to an annual review for impairment . goodwill is tested for impairment at the reporting unit level at least annually or when a triggering event occurs that could indicate a potential impairment by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that the fair value of net assets are below their carrying amounts . a reporting unit is the same as , or one level below , an operating segment . our operations are currently comprised of a single reporting unit . as of december 31 , 2020 , we determined , due to declining revenues and a decrease in our market capitalization , that it is more likely than not that the fair value of net assets are below their carrying amounts and , therefore , we performed the required goodwill impairment test under asc 350 , intangibles - goodwill and other . first , we estimated the fair value of the reporting unit to which goodwill is assigned using a combination of the income and market approach . we then compared the carrying amount of the reporting unit , including goodwill , to its fair value . since the fair value was less than the reporting unit 's carrying amount , we calculated the goodwill impairment as the difference between the reporting unit 's fair value and the carrying amount , not to exceed the carrying amount of goodwill . accordingly , we recorded an impairment charge of $ 17.4 million , recognized within total costs and expenses in the consolidated statement of comprehensive income , to impair the carrying amount of goodwill as of december 31 , 2020. income taxes we record the estimated future tax effects of temporary differences between the tax basis of assets and liabilities and amounts reported in our accompanying consolidated balance sheets , as well as operating loss and tax credit carryforwards . we follow the guidelines set forth in the applicable accounting guidance regarding the recoverability of any tax assets recorded on the consolidated balance sheet and provide any necessary allowances as required . determining necessary allowances requires us to make assessments about the timing of future events , including the probability of expected future taxable income and available tax planning opportunities . when we determine that it is more likely than not that some portion or all of the deferred tax assets will not be realized in the future , the deferred tax assets are reduced by a valuation allowance . the valuation allowance is sufficient to reduce the deferred tax assets to the amount that we determine is more likely than not to be realized . at this time , we have recorded a full valuation allowance against the net deferred tax assets . we are subject to examination of our income tax returns by various tax authorities on a periodic basis . we regularly assess the likelihood of adverse outcomes resulting from such examinations to determine the adequacy of our provision for income taxes . we have applied the provisions of the applicable accounting guidance on accounting for uncertainty in income taxes , which requires application of a more‑likely‑than‑not threshold to the recognition and de‑recognition of uncertain tax positions . if the recognition threshold is met , the applicable accounting guidance permits us to recognize a tax benefit measured at the largest amount of tax benefit that , in our judgment , is more than 50 percent likely to be realized upon settlement . it further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions be recognized in earnings in the period of such change . we recognize tax liabilities in accordance with asc topic 740 , tax provisions and we adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available . due to the complexity of some of these uncertainties , the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities . these differences will be reflected as increases or decreases to income tax expense in the period in which they are determined . 47 results of operations the following table reflects our results of operations for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_2_th 48 revenues the following table reflects total revenues for the years ended december 31 , 2020 and 2019 ( in thousands ) : replace_table_token_3_th ( 1 ) products acquired in connection with zyla merger represent product sales , net for the period may 20 , 2020 through december 31 , 2020 . ( 2 ) includes product sales for gralise , which was divested in january 2020 ; product sales adjustments for previously divested products nucynta and lazanda ; and , product sales for non-promoted products oxaydo and solumatrix , which were acquired from zyla in may 2020. product sales , net for the year ended december 31 , 2020 , product sales primarily consisted of sales from indocin products , cambia , zipsor and sprix . we began shipping and recognizing product sales for indocin products , sprix , and non-promoted products , oxaydo and solumatrix , upon the zyla merger on may 20 , 2020. cambia net product sales for the year ended december 31 , 2020 decreased $ 4.1 million as compared to the same period in 2019 primarily due to lower volume and unfavorable payor mix . zipsor net product sales for the year ended december 31 , 2020 increased $ 0.8 million as compared to the same period in 2019 primarily due to the effect of prior

