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NEW CREDIT AGREEMENT (Tables)
 9 Months Ended
Sep. 30, 2024
Debt Disclosure [Abstract]  
Schedule of carrying value of the current and non-current components of the term loan
The carrying value of the current and non-current components of the Term Facility as of September 30, 2024 and December 31, 2023 are:
Current
(in thousands)September 30,
2024		December 31,
2023
Current borrowing on debt$— $3,000 
Deferred financing costs— (2,150)
Current debt, net of deferred financing costs $— $850 
Non-Current
(in thousands)September 30,
2024		December 31,
2023
Non-current borrowing on debt$— $291,000 
Deferred financing costs— (6,181)
Non-current debt, net of deferred financing costs and current component$— $284,819 
The carrying value of the current and non-current components of the New Credit Facility as of September 30, 2024 and December 31, 2023 are:
Current
(in thousands)September 30,
2024		December 31,
2023
Current borrowing on debt$8,125 $— 
Deferred financing costs(973)— 
Current debt, net of deferred financing costs$7,152 $— 
Non-Current
(in thousands)September 30,
2024		December 31,
2023
Non-current borrowing on debt$316,875 $— 
Deferred financing costs(3,957)— 
Non-current debt, net of deferred financing costs and current component$312,918 $— 
Schedule of contractual maturity of term loan and DDTL
The contractual maturity of the Term Loan A is as follows for the period ending:
(in thousands)New Term Facility
2024 (remainder of the year)$2,031 
202510,156 
202618,281 
202724,375 
202824,375 
2029245,782 
Total$325,000 
Schedule of components of total interest expense related to the notes and term loan
The following table sets forth the components of total interest expense related to the Term Facility, as recognized in the accompanying unaudited interim condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024202320242023
Contractual coupon$2,883 $7,864 $16,644 $22,834 
Amortization of deferred financing costs295 591 1,477 1,773 
Capitalized interest(138)(142)(401)(440)
$3,040 $8,313 $17,720 $24,167 
Extinguishment of the Credit Facility
On August 13, 2024, the Company entered into an indenture with U.S. Bank Trust Company, National Association, as trustee, for the issuance of the 2.25% Convertible Senior Notes due 2029 (as described in Note 7 “2.25% Convertible Senior Notes” to the Notes to Condensed Consolidated Financial Statements). The proceeds of the Convertible Senior Notes and cash on-hand were used to repay the Credit Facility in its entirety, approximately $294.0 million, comprised of $292.5 million of unpaid principal, $1.2 million in accrued and unpaid interest, and $0.3 million of legal fees. In connection with the issuance of the Convertible Senior Notes, the Company recorded a loss on debt extinguishment in the unaudited interim consolidated statement of operations for the three and nine months ended September 30, 2024, amounting to approximately $7.5 million, comprised of the write-off unamortized deferred financing fees related to the Credit Facility as of August 13, 2024.
The following table sets forth the components of total interest expense related to the Term Loan A during the three and nine months ended September 30, 2024 and 2023, as recognized in the accompanying unaudited interim condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024202320242023
Contractual coupon$530 $— $530 $— 
Amortization of deferred financing costs49 — 49 — 
$579 $— $579 $— 
The following table sets forth the components of total interest expense related to the Notes during the three and nine months ended September 30, 2024 and 2023, as recognized in the accompanying unaudited interim condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023:

Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024202320242023
Contractual coupon$969 $— $969 $— 
Amortization of finance fees281 — 281 — 
$1,250 $— $1,250 $—