Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements at Reporting Date

(in thousands)	As of March 31, 2019
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Warrant liability	$	30,700	$	—	$	—	$	30,700

(in thousands)	As of December 31, 2018
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Warrant liability	$	35,100	$	—	$	—	$	35,100

(in thousands)	As of March 31, 2019
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Wells Fargo Credit Agreement	$	56,825	$	—	$	56,825	$	—
Unsecured Senior Notes	54,782		—		—		53,800

(in thousands)	As of December 31, 2018
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Wells Fargo Credit Agreement	$	54,613	$	—	$	54,613	$	—
Unsecured Senior Notes	54,712		—		—		52,700

Summary of Change in the Estimated Fair Value of Private Placement Warrants

The following table summarizes changes in the estimated fair value of the Company’s warrant liability:

(in thousands)	For the Three Months Ended March 31,
	2019			2018
Balance at beginning of period	$	35,100		$	24,700
Change in value of warrants *	(4,400		)	2,500
Balance at end of period	$	30,700		$	27,200

* The change in value of the warrant liability for each period is presented as (Gain) loss from change in value of warrants in the Company’s Consolidated Statements of Operations.

Schedule of Inputs of the Black-Scholes Option Pricing Model

The inputs of the Black-Scholes option pricing model were as follows:

Assumptions	As of March 31,		As of December 31,
	2019		2018
Market value of the Common Stock	$7.49		$9.25
Exercise price	varies		varies
Risk-free interest rate	2.4	%	2.6	%
Estimated price volatility	77.5	%	55	%
Contractual term	0.3 years		0.5 years