DEBT (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Summary of Long-Term Debt

As of June 30, 2025 and December 31, 2024, our total long-term debt and finance lease obligations are summarized as follows (in thousands):

	June 30, 2025		December 31, 2024
	(unaudited)
2022 ABL Credit Agreement	$	97,886	$	112,671
First Lien Term Loan1	166,474		—
2025 Second Lien Term Loan1	98,065		—
ME/RE Loans1	—		22,119
Corre Uptiered Loan1	—		143,955
Corre Incremental Term Loan1	—		39,824
Equipment Finance Loan	437		1,399
Total	362,862		319,968
Finance lease obligations	7,352		5,143
Total long-term debt and finance lease obligations	370,214		325,111
Current portion of long-term debt and finance lease obligations	(3,833)		(6,485)
Total long-term debt and finance lease obligations, less current portion	$	366,381	$	318,626

1    Comprised of principal amount outstanding, less unamortized debt issuance costs. See below for additional information.

Summary of Debt

The terms of the Revolving Credit Loans are described in the table below (dollar amounts are presented in thousands):

Maturity date	9/30/2027
Interest rate	SOFR + applicable margin (base + applicable margin)
Actual interest rate
6/30/2025	8.69%
6/30/2024	10.09%
Interest payments	monthly
Cash paid for interest
YTD 6/30/2025	$3,801
YTD 6/30/2024	$3,816
Principal balance
6/30/2025	$97,886
12/31/2024	$77,905
Unamortized balance of deferred financing cost
6/30/2025	$988
12/31/2024	$693
Available amount at 6/30/2025	$22,669

The terms of the Initial First Lien Term Loan are described in the table below (dollar amounts are presented in thousands):

Maturity date	3/12/2030
Stated interest rate	SOFR+applicable margin (base+applicable margin)
Principal payments	$438 quarterly
Effective interest rate
6/30/2025	12.70%
Actual interest rate
6/30/2025	10.74%
Interest payments	quarterly
Cash paid for interest
YTD 6/30/2025	$1,735
Balances at 6/30/2025
Principal balance	$174,563
Unamortized balance of debt discount and issuance cost1	$(8,089)
Net carrying balance	$166,474

1    Consists of debt discount of $3,791 and debt issuance cost of $4,298.

The terms of the 2025 Second Lien Term Loans are described in the table below (dollar amounts are presented in thousands):

Maturity date	6/10/2030
Principal payments	quarterly 1
Effective interest rate
6/30/2025	16.06%
Actual interest rate
6/30/2025	13.50%
Interest payments	quarterly
Cash paid for interest
6/30/2025	$—
PIK interest added to principal balance
6/30/2025	$4,183
Balances at 6/30/2025
Principal balance	$101,376
Unamortized balance of debt issuance cost	$(3,311)
Net carrying balance	$98,065

1    Principal payments represent a percentage (ranges between 0% and 0.25% based on the First Lien Net Leverage Ratio) of the outstanding principal balance. As of June 30, 2025 we are not making principal payments.