SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2021

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On July 9, 2021, the Company completed the redemption of all of its outstanding Public and Sponsor Warrants to purchase shares of the Company's common stock, par value $0.0001 per share, that were issued under the Warrant Agreement, dated April 27, 2020. Of the 13,799,947 Public Warrants that were outstanding as of the time of the Business Combination, 874,739 were exercised for cash at an exercise price of $11.50 per share of Common Stock and 12,521,776 were exercised on a cashless basis in exchange for an aggregate of 4,452,659 shares of Common Stock. In addition, of the 6,133,333 Private Warrants that were outstanding as of the date of the Business Combination, 1,073,333 were exercised for cash at an exercise price of $11.50 per share of Common Stock and 5,060,000 were exercised on a cashless basis in exchange for an aggregate of 1,799,336 shares of Common Stock. Total cash proceeds to the Company generated from exercises of the Warrants were $22.4 million.

In connection with the redemption, the Public Warrants stopped trading on the Nasdaq Global Select Market and were delisted after close of market on July 9, 2021.

On July 30, 2021, the Company entered into a senior revolving credit facility, Revolving Facility 2021-1, which has a final maturity date of October 31, 2022. As a result of entering in this new senior revolving credit facility and other amendments to existing credit facilities, the Company has an aggregate borrowing capacity of $3,980.0 million and fully committed borrowing capacity of $2,255.0 million for its senior credit facilities.