Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Borrowings under Credit Agreement

As of December 31, 2021 and 2020, total borrowings under the Successor Credit Agreement, Amended Credit Agreement, and 2026 Notes consisted of the following, respectively:

	December 31, 2021	December 31, 2020
Non-current indebtedness:
Term Loan (1)	$                  —	$262,653,996
Revolving Credit Facility (2)	20,000,000	—
Convertible Senior Debt	440,000,000	—
Total borrowings under credit facility	460,000,000	262,653,996
Less: Current maturities of long-term debt (3)	—	6,760,650
Less: Long-term loan debt issuance cost (4)	11,515,304	5,940,600
Total non-current borrowings	$448,484,696	$249,952,746

⁽¹⁾ The Term Loan bears interest at a variable rate, which was 3.65 % as of December 31, 2020.

⁽²⁾ The Revolving Credit Facility bears interest at a variable rate, which was 2.35% as of December 31, 2021.

⁽³⁾ Pursuant to the terms of the Amended Credit Agreement, the Company was required to make quarterly principal payments equal to 0.625% of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”).  

⁽⁴⁾ The Company incurred $2.5 million, $1.4 million and $0.6 million of interest expense for the amortization of deferred debt issuance costs for the years ended December 31, 2021 and 2020, and the period from July 11, 2020 to December 31, 2019, respectively. The Predecessor incurred $0.2 million for the period from January 1, 2019 to July 10, 2019.

Summary of Principal Maturities of Long-term Debt

Following is a summary of principal maturities of the Term Loans outstanding as of December 31, 2021 for each of the next five years ending December 31 and in the aggregate:

2022	$                          —
2023	—
2024	—
2025	—
2026	460,000,000
2027	—
	$460,000,000