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LONG-TERM DEBT NET (Tables)
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Summary of the convertible notes
The net carrying amount of the liability of the Notes as of June 30, 2024 and December 31, 2023 are as follows:
June 30,
2024
December 31,
2023
UnauditedAudited
Liability component, net:
Principal amount$560,945 $575,000 
Unamortized issuance costs (4,437)(6,178)
Net carrying amount of liability component (1)$556,508 $568,822 
(1) An effective interest rate determines the fair value of the Notes, therefore they are categorized as Level 3 in accordance with ASC 820. The estimated fair value of the net carrying amount of liability component of the Notes as of June 30, 2024 and December 31, 2023 were $507,158 and $515,962, respectively.
Finance expense related to the Notes was as follows:
Three months ended June 30,Six months ended June 30,Year ended December 31,
2023
2024202320242023
UnauditedUnauditedAudited
Gain from redemption of Notes
(1,142)— (1,142)— — 
Amortization of debt issuance costs
911 826 1,741 1,641 3,313 
Total finance expenses (income) recognized
$(231)$826 $599 $1,641 $3,313 
Schedule of senior secured credit facility
June 30,
2024
December 31,
2023
UnauditedAudited
Liability component, net:
Principal amount$100,000 $— 
Unamortized issuance costs (3,038)— 
Net carrying amount of liability component (1)$96,962 $— 

(1) An effective interest rate determines the fair value of the Notes, therefore they are categorized as Level 3 in accordance with ASC 820. The estimated fair value of the net carrying amount of liability component of the Notes as of June 30, 2024 and December 31, 2023 were $114,187 and $0, respectively.
Finance expense related to the Facility was as follows:
Three months ended June 30,Six months ended June 30,Year ended December 31,
2023
2024202320242023
UnauditedUnauditedAudited
Interest
1,962 — 1,962 — — 
Amortization of debt issuance costs
40 — 40 — — 
Total finance expense recognized
$2,002 $— $2,002 $— $—