Debt

3 Months Ended

Mar. 31, 2020

The following table sets forth the composition of the Company’s debt as of March 31, 2020 and December 31, 2019:



(in thousands)	March 31, 2020			December 31, 2019
Term loan facility	$	33,250		$	34,125
Less: Debt discount, net	(174		)	(192		)
Less: Debt issuance costs, net	(53		)	(58		)
Net carrying amount	33,023			33,875
Less: Current portion	3,500			3,500
Long-term debt, net	$	29,523		$	30,375

Credit Facilities

For the three months ended March 31, 2020, the weighted-average interest rate on the Company’s term loan facility amounted to 3.69%, and the unused commitment fee on the Company’s revolving credit facility was 0.25% per annum. There were no outstanding borrowings under the Company’s revolving credit facility as of March 31, 2020.

The Company was in compliance with its debt covenants as of March 31, 2020.

Scheduled Principal Payments

The following table sets forth the Company’s minimum future principal payments under the credit facilities as of March 31, 2020:



(in thousands)	Minimum
Years Ending December 31,	Principal Payments
Remaining in 2020	$	2,625
2021	3,500
2022	27,125
Total minimum principal payments	$	33,250