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Subsequent Events
6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events
17. Subsequent Events
Conversions of 2025 Convertible Notes
As of August 7, 2024, holders of $224.7 million aggregate principal amount of the outstanding 2025 Convertible Notes elected to convert their notes into shares of the Company's common stock at a conversion rate of 25.5384 shares of common stock per $1,000 principal amount of 2025 Convertible Notes (equivalent to an initial conversion price of approximately $39.16 per share of common stock). These conversions will result in the issuance of an aggregate of 5,739,433 shares of the Company’s common stock. Unless earlier converted, on the Redemption Date, the remaining $0.3 million aggregate principal amount of 2025 Convertible Notes outstanding will be redeemed by the Company at the Redemption Price. See Note 10 - Debt for further details.
Conversions of 2028 Convertible Notes
On July 1, 2024, the 2028 Convertible Notes became convertible by the holders of such notes due to the satisfaction of the Stock Price Convertibility Trigger applicable to such notes. The current conversion rate for the 2028 Convertible Notes is
30.7692 shares of common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $32.50 per share of common stock). The Company has elected to settle any conversions of the 2028 Convertible Notes in shares of common stock.
As of August 2, 2024, holders of nine thousand dollars of aggregate principal amount of 2028 Convertible Notes elected to convert their notes, resulting in an issuance of an aggregate of 276 shares of the Company’s common stock. The 2028 Convertible Notes will only be convertible during the third quarter of 2024 unless another triggering event occurs. See Note 10 - Debt for further details.
Vertuis Deferred Consideration
In July 2024, the Company issued the Vertuis equityholders an additional $1.0 million of shares of the Company's common stock, or 14,773 shares of common stock, based on the closing share price on June 28, 2024. See Note 16 – Acquisitions for further details.