Debt, Net (Tables)
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6 Months Ended |
Jun. 30, 2022 |
Debt Disclosure [Abstract] |
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Components of debt |
The following table summarizes the components of Debt, net (dollars in thousands): | | | | | | | | | | | | | June 30, 2022 | | December 31, 2021 | Debt, net, current: | | | | Sprott Credit Agreement | $ | 2,200 | | | $ | 17,223 | | Note payable | 126 | | | 115 | | Less, debt issuance costs | — | | | (672) | | Total | $ | 2,326 | | | $ | 16,666 | | | | | | Debt, net, non-current: | | | | Sprott Credit Agreement, net of original issue discount ($11.6 million, net) | $ | 43,595 | | | $ | 51,809 | | Subordinated Notes | 98,365 | | | 93,599 | | Note payable | 270 | | | 345 | | Less, debt issuance costs | (2,333) | | | (2,115) | | Total | $ | 139,897 | | | $ | 143,638 | |
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Schedule of maturities of long-term debt |
The following table summarizes the Company’s contractual payments of Debt, net, including current maturities, for the five years subsequent to June 30, 2022 (dollars in thousands): | | | | | | July 1, 2022 through December 31, 2022 | $ | 1,163 | | 2023 | 2,327 | | 2024 | 2,329 | | 2025 | 1,154 | | 2026 | 22 | | 2027 | 149,169 | | Total | 156,164 | | Less, original issue discount, net of accumulated amortization ($8.7 million) | (11,608) | | Less, debt issuance costs, net of accumulated amortization ($2.6 million) | (2,333) | | Total debt, net | $ | 142,223 | |
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Components of recorded interest expense |
The following table summarizes the components of recorded Interest expense, net of capitalized interest (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2022 | | 2021 | | 2022 | | 2021 | Sprott Credit Agreement | | $ | 1,088 | | $ | 2,767 | | | $ | 2,587 | | $ | 5,407 | | Subordinated Notes | | 2,426 | | 2,173 | | | 4,766 | | 4,293 | | Amortization of original issue discount | | 559 | | 350 | | | 1,717 | | 685 | | Amortization of debt issuance costs | | 123 | | — | | | 454 | | — | | Other interest expense | | 2 | | 8 | | | 20 | | 16 | | Capitalized interest | | — | | — | | | — | | (654) | | Total | | $ | 4,198 | | | $ | 5,298 | | | $ | 9,544 | | | $ | 9,747 | |
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