LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consisted of the following (in thousands):

	June 30, 2021		December 31, 2020
	(unaudited)
ABL Facility	$	49,300	$	9,000
Term Loan1	215,770		213,809
Total	265,070		222,809
Convertible debt1	86,068		84,534
Finance lease obligations	5,321		5,153
Total debt and finance lease obligations	356,459		312,496
Current portion of long-term debt and finance lease obligations	(473)		(337)
Total long-term debt and finance lease obligations, less current portion	$	355,986	$	312,159

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1        Comprised of principal amount outstanding, less unamortized discount and issuance costs.

Convertible Debt

As of June 30, 2021 and December 31, 2020, the Notes were recorded in our condensed consolidated balance sheets as follows (in thousands):

	June 30, 2021		December 31, 2020
	(unaudited)
Liability component:
Principal	$	93,130	$	93,130
Unamortized issuance costs	(1,183)		(1,440)
Unamortized discount	(5,879)		(7,156)
Net carrying amount of the liability component1	$	86,068	$	84,534
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	7,969	$	7,969
Carrying amount of the equity component, net of issuance costs	$	37,276	$	37,276

_________________

1        Included in the “Long-term debt and finance lease obligations” line of the condensed consolidated balance sheets.

2        Relates to the portion of the Notes accounted for under ASC 470-20 (defined below) and is included in the “Additional paid-in capital” line of the condensed consolidated balance sheets.

The following table sets forth interest expense information related to the Notes (dollars in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
	(unaudited)			(unaudited)			(unaudited)			(unaudited)
Coupon interest	$	1,164		$	2,875		$	2,328		$	5,750
Amortization of debt discount and issuance costs	768			1,732			1,534			3,439
Total interest expense on Notes	$	1,932		$	4,607		$	3,862		$	9,189
Effective interest rate	9.12		%	9.12		%	9.12		%	9.12		%