DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

As of March 31, 2023 and December 31, 2022, our total long-term debt and finance lease obligations are summarized as follows (in thousands):

	March 31, 2023		December 31, 2022
	(unaudited)
2022 ABL Credit Facility	$	93,915	$	99,916
APSC Term Loan	33,599		31,562
Subordinated Term Loan	114,756		107,905
Total	242,270		239,383
Convertible Debt1	40,922		40,650
Finance lease obligations2	5,751		5,902
Total long-term debt and finance lease obligations	288,943		285,935
Current portion of long-term debt and finance lease obligations	(284,102)		(280,993)
Total long-term debt and finance lease obligations, less current portion	$	4,841	$	4,942

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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 March 31, 2023 and December 31, 2022, we held the following warrants:

	Original					After Reverse Stock Split (Effective date December 22, 2022)
Holder	Date	Number of shares	Exercise price		Expiration date	Number of shares	Exercise price		Expiration date
APSC Holdco II, LP
Original, as awarded	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	12/8/2028
Corre	12/8/2021	5,000,000	$	1.50	12/8/2028	500,000	$	15.00	12/8/2028
Total warrants		10,000,000				1,000,000

Schedule of Convertible Debt

As of March 31, 2023 and December 31, 2022, the Notes were recorded in our condensed consolidated balance sheet as follows (in thousands):

	March 31, 2023		December 31, 2022
	(unaudited)
Liability component:
Principal	$	41,162	$	41,162
Unamortized issuance costs	(177)		(377)
Unamortized discount	(63)		(135)
Net carrying amount of the liability component1	$	40,922	$	40,650
Equity component:
Carrying amount of the equity component, net of issuance costs2	$	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 condensed consolidated balance sheets.

2        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 condensed consolidated balance sheets.