COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Dividends Declared

Presented below is a summary of total and per share dividends declared through March 31, 2021 (dollars in thousands, except per share amounts):

	Dividends Payable in:				Total		Dividends
	Cash		PIK		Dividends		Per Share
Dividends payable as of December 31, 2020	$	3,842	$	1,193	$	5,035	$	32.50
Cash Dividends @ 10% per annum	3,660		—		3,660		23.40
PIK Dividends @ 3% per annum	—		1,098		1,098		7.02
Fractional PIK shares settled for cash	47		(47)		—		—
Less dividends settled January 4, 2021	(4,009)		(1,193)		(5,202)		(33.26)
Dividends payable as of March 31, 2021	$	3,540	$	1,051	$	4,591	32.14

From January 1, 2021 through July 19, 2023, the date until which the Series A Preferred Stock is expected to remain outstanding, estimated Cash Dividends and PIK Dividends required to be declared are as follows (in thousands):

Year Ending December 31:	Cash		PIK		Total
2021	$	10,534	$	3,160	$	13,694
2022	9,032		2,709		11,741
2023	5,085		1,526		6,611
Total	$	24,651	$	7,395	$	32,046