DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Summary of Long-Term Debt

As of December 31, 2022 and 2021, our total long-term debt and finance lease obligations are summarized as follows (in thousands):

	December 31,
	2022		2021
2020 ABL Facility	$	—	$	62,000
2022 ABL Facility	99,916		—
APSC Term Loan	31,562		214,191
Subordinated Term Loan	107,905		36,358
Total	239,383		312,549
Convertible Debt1	40,650		87,662
Finance lease obligations2	5,902		5,640
Total debt and finance lease obligations	285,935		405,851
Current portion of long-term debt and finance lease obligations	(280,993)		(667)
Total long-term debt and finance lease obligations, less current portion	$	4,942	$	405,184

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1        Comprised of principal amount outstanding, less unamortized discount and issuance costs. See Convertible Debt section below for additional information.

2        Excludes finance lease obligations associated with discontinued operations.

Schedule of Warrants or Rights

As of December 31, 2022 and 2021, we held the following warrants:

	Original					After Reverse Stock Split (Effective date December 22, 2023)
Holder	Date	Number of shares	Exercise price		Expiration date	Number of shares	Exercise price		Total value of stock		Expiration date
APSC Holdco II, LP
Original	12/18/2020	3,582,949	$	7.75	6/14/2028
Amended	11/9/2021	500,000	$	1.50	6/14/2028
Amended	12/8/2021	917,051	$	1.50	12/8/2028
Total APSC		5,000,000	$	1.50	12/8/2028	500,000	$	15.00	$	7,500,000	12/8/2028
Corre	12/8/2021	5,000,000	$	1.50	12/8/2028	500,000	$	15.00	$	7,500,000	12/8/2028
Total warrants		10,000,000				1,000,000			$	15,000,000

Convertible Debt

As of December 31, 2022 and 2021, the Notes were recorded in our consolidated balance sheet as follows (in thousands):

	December 31,
	2022		2021
Liability component:
Principal	$	41,162	$	93,130
Unamortized issuance costs	(377)		(916)
Unamortized discount	(135)		(4,552)
Net carrying amount of the liability component1	$	40,650	$	87,662
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	—	$	7,969
Carrying amount of the equity component, net of issuance costs3	$	37,276	$	37,276

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1    Included in the “Current portion of long-term debt and finance lease obligations” line of the 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 consolidated balance sheets.

3    Relates to the portion of the Notes accounted for under ASC 815-15 (defined below) and is included in the “Additional paid-in capital” line of the consolidated balance sheets.

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

	December 31,
	2022			2021
Coupon interest	$	5,700		$	4,657
Amortization of debt discount and issuance costs	2,405			3,129
Total interest expense	$	8,105		$	7,786
Effective interest rate	7.84		%	9.12		%

Schedule of Error Corrections and Prior Period Adjustments

Accordingly, the cumulative effect of the changes made on our January 1, 2022 consolidated balance sheet for the adoption of ASU 2020-06 was as follows (in thousands):

	Balances as of December 31, 2021		Adjustments from Adoption of ASU 2020-06		Balances at January 1, 2022
Liabilities
Long-term debt and finance lease obligations	$	405,191	$	1,827	$	407,018
Equity
Additional paid-in capital	$	453,247	$	(5,651)	$	447,596
Accumulated deficit	$	(375,584)	$	3,824	$	(371,760)