LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:

(in thousands)	June 30, 2023		December 31, 2022
Senior Secured Term Loans	$	229,760	$	247,204
Less: Debt issuance and amendment costs, net	(4,575)		(878)
Less: Unamortized discount, net	(7,101)		(833)
Net Senior secured term loans	218,084		245,493
Revolver	—		—
Less: Debt issuance costs, net	(203)		(263)
Net Revolver	(203)		(263)
Total Long-term debt	$	217,881	$	245,230

Schedule of Debt

The PIK component of the interest rate is subject to adjustment based on the amount of Aggregate Paydowns as set forth in the table below. Based on Aggregate Paydowns of $20 million through June 30, 2023, the PIK component of the interest rate was 4.50%. The interest rate as of June 30, 2023 was 14.49%.

Aggregate Paydowns	PIK Component of Interest Rate
Less than $20 million	5.00%
$20 million+ but less than below	4.50%
$30 million+ but less than below	3.75%
$40 million+ but less than below	3.50%
$45 million+ but less than below	3.00%
$50 million+ but less than below	2.50%
$55 million+ but less than below	2.00%
$60 million+ but less than below	1.00%
$65 million+ but less than below	0.50%
$70 million+	0.00%