Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Maturities of Long-term Debt

The amount payable in each year as of June 30, 2019 is set forth in the table below (in thousands):

2019 (remainder)	$	3,125
2020		9,375
2021		12,500
2022		12,500
2023		15,625
Thereafter		68,750
Total remaining principal payments	$	121,875

Summary of Company’s Total Outstanding Borrowings

The following table summarizes the Company’s total outstanding borrowings as of the dates indicated (in thousands):

Description:	June 30, 2019			December 31, 2018
Term loan facility (1)	$	121,875		$	—
Revolving credit facility (1) (2)		20,000			—
Principal amount outstanding (3)		141,875			—
Less: Deferred financing fees		(2,522	)		—
Net carrying amount	$	139,353		$	—

(1) The contractual annualized interest rate as of June 30, 2019 on the Term loan facility and the Revolving Credit Facility was 4.6875%, which consisted of LIBOR of 2.4375% plus a margin of 2.25%.

(2) The Company had $55.0 million of available borrowing capacity on the revolver (not including the expansion feature) as of June 30, 2019.

(3) The weighted average annual effective rates on the Company's total debt outstanding for the three and six months ended June 30, 2019, were 4.81% and 5.04%, respectively.