DEBT (Tables)

3 Months Ended

Mar. 31, 2024

DEBT

Schedule of debt

The Company’s debt consisted of the following for the periods presented (in thousands):

	March 31, 2024		December 31, 2023
Term loan credit facility	$	190,000	$	200,000
Other		188		215
Total debt (Face Value)		190,188		200,215
Less:
Current portion of long-term debt(1)		(55,106)		(50,106)
Other(2)		(8,261)		(9,833)
Long-Term Debt, net	$	126,821	$	140,276

(1) Amounts primarily reflect amortization payments due of $55.0 million and $50.0 million under the Amended Term Loan Agreement due within one year as of March 31, 2024 and December 31, 2023, respectively.

(2) Amounts primarily reflect unamortized debt issuance costs of approximately $5.7 million and $6.9 million at March 31, 2024 and December 31, 2023, respectively, but also includes an unamortized debt discount associated with an embedded derivative separately presented and further described in Note 5, “Fair Value Measurements”. For the three months ended March 31, 2024 and 2023, the Company recorded approximately $1.7 million and $1.8 million, respectively, in interest expense reflecting the amortization/accretion of these amounts.

Schedule of prepayment premiums

The Company may elect, at its option, to prepay any borrowing outstanding under the Amended Term Loan Agreement subject to the following prepayment premiums:

Period (after applicable borrowing date(1))	Premium
Months 0-12	Make-whole amount equal to 12 months of interest plus 2.00%
Months 13-24	2.00%
Months 25-36	1.00%
Months 37-48	0.00%

(1) Applicable borrowing dates are November 2021 for the original $200.0 million borrowed and April and November 2022 for the $20.0 million and $15.0 million in delayed draw borrowings, respectively.