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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Fair Value Measurements at Reporting Date


(in thousands)	As of September 30, 2020
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Revolving credit facility	$	130,000	$	—	$	130,000	$	—


(in thousands)	As of December 31, 2019
	Carrying Value		Fair Value
			Level 1		Level 2		Level 3
Revolving credit facility	$	39,527	$	—	$	39,527	$	—
Unsecured Senior Notes	54,765		—		—		54,600

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 Nine Months Ended September 30, 2019
Balance at beginning of period	$	35,100
Change in value of warrants *	1,352
Settlement of warrants	(36,452)
Balance at end of period	$	—

*The change in value of the warrant liability is presented as Loss from change in value of warrants in the Company’s Consolidated Statements of Operations.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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