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EQUITY (Tables)
12 Months Ended
Dec. 31, 2019
EQUITY [Abstract]  
Schedule of Fair Value Assumptions

The fair values for the Warrants upon issuance were estimated using the Black-Scholes option pricing model using the following assumptions:

 

 

 

 

 

 

 

    

Warrants Issued in

 

 

Successor Period

Risk–free interest rate

 

 

2.8

%

Dividend yield

 

 

 —

%

Expected life (years)

 

 

5.0

 

Expected volatility

 

 

69.0

%

Strike price

 

$

37.48

 

Calculated fair value

 

$

9,345

 

 

General Partner Incentive Distributions with Respect to Specified Target Levels

The general partner was entitled to incentive distributions if the amount distributed with respect to one quarter exceeded specified target levels shown below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marginal Percentage

 

 

 

 

 

Interest in Distributions

 

 

Total Quarterly Distributions

 

Limited

 

General

 

    

Target Amount

    

Partner

    

Partner

Minimum quarterly distribution

 

 

$0.7615

 

98

%  

 2

%

First target distribution

 

 

Up to $0.875725

 

98

%  

 2

%

Second target distribution

 

 

Above $0.875725, up to $0.951875

 

85

%  

15

%

Thereafter

 

 

Above $0.951875

 

75

%  

25

%