11. Equity Method Investment

The Company made the third $1.0 million equity investment required under the Cerebellum Capital put option on February 1, 2018.

On March 2, 2018, the Company agreed to purchase an additional $3.0 million of participating preferred units in Cerebellum Capital in three installments of $1.0 million each on April 1, 2018, July 1, 2018 and October 1, 2018. The Company made the first $1.0 million investment on April 1, 2018 and the second $1.0 million investment on July 2, 2018.

The Company recorded $0.2 million and $0.3 million in losses from equity method investments in the three months and six months ended June 30, 2018, respectively, and $0.2 million in losses from equity method investments in the three months and six months ended June 30, 2017. Losses from equity method investments are recorded in interest income and other income/(expense) on the unaudited condensed consolidated statements of operations. Equity method investments are recorded in other assets on the unaudited condensed consolidated balance sheets.