LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following (in thousands):

	September 30, 2021		December 31, 2020
	(unaudited)
ABL Facility	$	54,100	$	9,000
Term Loan1	216,877		213,809
Total	270,977		222,809
Convertible notes1	86,859		84,534
Finance lease obligations	5,792		5,153
Total debt and finance lease obligations	363,628		312,496
Current portion of long-term debt and finance lease obligations	(663)		(337)
Total long-term debt and finance lease obligations, less current portion	$	362,965	$	312,159

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1        Comprised of principal amount outstanding, less unamortized discount and issuance costs.

Convertible Debt

As of September 30, 2021 and December 31, 2020, the Notes were recorded in our condensed consolidated balance sheets as follows (in thousands):

	September 30, 2021		December 31, 2020
	(unaudited)
Liability component:
Principal	$	93,130	$	93,130
Unamortized issuance costs	(1,051)		(1,440)
Unamortized discount	(5,220)		(7,156)
Net carrying amount of the liability component1	$	86,859	$	84,534
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	7,969	$	7,969
Carrying amount of the equity component, net of issuance costs3	$	37,276	$	37,276

_________________

1        Included in the “Long-term debt and finance lease obligations” line of the condensed consolidated balance sheets.

2        Relates to the portion of the Notes accounted for under ASC 470-20 and is included in the “Additional paid-in capital” line of the condensed consolidated balance sheets.

2        Relates to the portion of the Notes accounted for under ASC 815-15 and is included in the “Additional paid-in capital” line of the condensed consolidated balance sheets.

The following table sets forth interest expense information related to the Notes (dollars in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Coupon interest	$	1,164		$	2,875		$	3,492		$	8,625
Amortization of debt discount and issuance costs	791			1,785			2,326			5,224
Total interest expense on Notes	$	1,955		$	4,660		$	5,818		$	13,849
Effective interest rate	9.12		%	9.12		%	9.12		%	9.12		%