SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

The following table summarizes the total share-based compensation expense included in the consolidated statements of operations and comprehensive income (loss):

	For the Years Ended December 31,				Period from Inception to December 31, 2019	Period from January 1, 2019 to September 3, 2019
(in thousands)	2021		2020		(Successor)	(Predecessor)
Selling, general and administrative	$	4,380	$	6,682	$—	$300
Total stock-based compensation expense	$	4,380	$	6,682	$—	$300

Share-based Payment Arrangement, Option, Activity

Stock option activity and information about stock options outstanding are summarized in the following table:

	Stock Option Awards	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Outstanding at December 31, 2019 (Successor)	—	$	—	—
Granted	5,723,676	7.94
Exercised	—	—
Forfeited	(102,312)	7.94
Outstanding at December 31, 2020	5,621,364	$	7.94	9.20
Granted	587,001	13.35
Exercised	(172,728)	7.86
Forfeited	(399,483)	8.78
Outstanding at December 31, 2021	5,636,154	$	7.68	8.29
Vested or expect to vest as of December 31, 2021	5,636,154	$	7.68	8.29
Vested and Exercisable as of December 31, 2021	2,729,741	$	7.56	8.17

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of the options granted during the year were estimated on the date of the grant using the Black-Scholes Merton model based on the following assumptions:

	2021 Grants		2020 Grants
Expected term (years)	5.00 to 6.24		5.85 to 6.10
Expected volatility	45% to 60%		50% to 55%
Risk free interest rate	0.66% to 1.11%		0.36% to 0.95%
Expected dividend yield	—	%	—	%

The fair value of the LTI awards granted during 2020 were estimated on the date of the grant using the Monte-Carlo Simulation analysis based on the following assumptions:

Expected term (years)	2.25 to 4.25
Expected volatility	60%
Risk free interest rate	0.15% to 0.23%
Expected dividend yield	—

Share-based Payment Arrangement, Restricted Stock Unit, Activity

Activity and information about non-vested RSUs outstanding are summarized in the following table:

	Restricted Stock Units	Weighted Average Grant Date Fair Value (in thousands)
Outstanding at December 31, 2020	—	$	—
Granted	207,081	2,661
Vested	(8,152)	(75)
Forfeited	(44,643)	(580)
Outstanding at December 31, 2021	154,286	$	2,006

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

	LTI Awards
Outstanding at December 31, 2019 (Successor)	—
Granted	56
Forfeited	(2)
Outstanding as of December 31, 2020	54
Forfeited	(11)
Outstanding as of December 31, 2021	43