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Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Debt consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
7.500% Senior Notes | $ | 595,183 |  |  | $ | — |
Credit Facility | 75,000 |  |  | — |
Delayed Draw Term Loan | — |  |  | 417,260 |
Cantor Credit Agreement | — |  |  | 130,000 |
Long-term debt | 670,183 |  |  | 547,260 |
Total corporate debt | $ | 670,183 |  |  | $ | 547,260 |
The carrying amount of the Delayed Draw Term Loan was determined as follows (in thousands):
| March 31, 2024 |  | December 31, 2023
Principal balance | $ | — |  |  | $ | 420,000 |
Less: debt issue cost | — |  |  | 2,740 |
Total | $ | — |  |  | $ | 417,260 |
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |  |  |
Interest expense |  | $ | 1,038 |  |  | $ | — |  |  |  |  |  |  |
Debt issue cost amortization |  | 16 |  |  | — |  |  |  |  |  |  |
Acceleration of debt issuance costs |  | 2,653 |  |  | — |  |  |  |  |  |  |
Total |  | $ | 3,707 |  |  | $ | — |  |  |  |  |  |  |
Schedule of Debt | Interest expense, amortization of debt issue costs and amortization of the debt discount of the 6.125% Senior Notes, included in “Interest expense, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |  |  |
Interest expense |  | $ | — |  |  | $ | 8,422 |  |  |  |  |  |  |
Debt issue cost amortization |  | — |  |  | 321 |  |  |  |  |  |  |
Debt discount amortization |  | — |  |  | 328 |  |  |  |  |  |  |
Total |  | $ | — |  |  | $ | 9,071 |  |  |  |  |  |  |
The carrying amount of the 7.500% Senior Notes was determined as follows (in thousands):
| March 31, 2024 |  | December 31, 2023
Principal balance | $ | 600,000 |  |  | $ | — |
Less: debt issue cost | 4,817 |  |  | — |
Total | $ | 595,183 |  |  | $ | — |
Interest expense, amortization of debt issue costs of the 7.500% Senior Notes, included in “Interest expense, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |  |  |
Interest expense |  | $ | 9,875 |  |  | $ | — |  |  |  |  |  |  |
Debt issue cost amortization |  | 221 |  |  | — |  |  |  |  |  |  |
Total |  | $ | 10,096 |  |  | $ | — |  |  |  |  |  |  |
Interest expense and amortization of debt issue costs of the Credit Facility, included in “Interest expense, net” on the accompanying unaudited condensed consolidated statements of operations, were as follows (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |  |  |
Interest expense |  | $ | 308 |  |  | $ | 1,259 |  |  |  |  |  |  |
Debt issue cost amortization |  | 264 |  |  | 447 |  |  |  |  |  |  |
Unused facility fee |  | 312 |  |  | 271 |  |  |  |  |  |  |
Total |  | $ | 884 |  |  | $ | 1,977 |  |  |  |  |  |  |

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