DEBT (Tables)

9 Months Ended

Sep. 30, 2020

Long-term Debt, Unclassified [Abstract]

Summary of long-term debt

The following table reflects the Company’s debt as of September 30, 2020 and December 31, 2019 (in thousands):

	September 30, 2020		December 31, 2019
13% Senior Secured Note due 2024	$	85,000	$	—
2.50% Convertible Notes due 2021	335		145,000
5.00% Convertible Notes due 2024(2)	—		120,000
Royalty rights obligation(3)	2,931		—
Senior Notes(4)	—		162,500
Total principal amount	88,266		427,500
Unamortized debt discounts	(20)		(70,699)
Unamortized debt issuance costs	(1)		(5,543)
Carrying value	88,245		351,258
Less: current portion of long-term debt	(11,010)		(80,000)
Net, long-term debt	$	77,235	$	271,258

(1) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its Existing Indenture, and Assertio and                     the other subsidiaries of the Company (other than Depo DR) became guarantors of Zyla's 13% Senior Secured Notes due 2024.

(2) 2024 Notes settled and retired as of June 30, 2020.

(3) In connection with the Zyla Merger on May 20, 2020, the Company assumed the obligations of Zyla under its royalty rights agreement with each holder of its Secured Notes.

(4) During the first quarter of 2020, the Company repaid in full the outstanding aggregate principal amount of senior secured notes (Senior Notes)

Summary of interest expense for the convertible notes

The following table reflects interest expense, net included in the Unaudited Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Stated coupon interest	$	2,938	$	7,976	$	7,714	$	27,096
Amortization of debt discount, debt issuance costs and royalty rights (Non-cash)	103		5,870		5,614		18,090
Other interest expense	—		26		—		82
Total interest expense	$	3,041	$	13,872	$	13,328	$	45,268