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Debt (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of liability components of long term debt | The Company's debt consists of the following:
(in thousands) |  | March 31, 2021 |  | December 31, 2020
Senior Secured Term Loan due 2026: |  |  |  |
Principal |  | $ | 400,000 |  |  | $ | 400,000 |
Less: debt discount (1) |  | (7,139) |  |  | (7,434) |
Less: deferred financing (1) |  | (5,371) |  |  | (5,592) |
Net carrying value of the Senior Secured Term Loan |  | $ | 387,490 |  |  | $ | 386,974 |
Convertible Notes (2): |  |  |  |
Principal(3) |  | $ | 2,800 |  |  | $ | 2,825 |
Less: debt discount (1) |  | (476) |  |  | (518) |
Less: deferred financing (1) |  | (25) |  |  | (27) |
Net carrying value of the Convertible Notes |  | $ | 2,299 |  |  | $ | 2,280 |
Net carrying value of Long-term debt |  | $ | 389,789 |  |  | $ | 389,254 |
______________________________ (1) Included in the Consolidated Balance Sheets within long-term debt and amortized to interest expense over the remaining life of the Convertible Notes and Senior Secured Term Loan using the effective interest rate method. (2) The Convertible Notes are currently convertible as the last reported sale price of the Company's common stock was equal to or more than 130% of the conversion price for at least 20 trading days of the 30 consecutive trading days ending on the last day of the quarter. (3) In the first quarter of 2021, the Company exchanged an aggregate principal amount of $25.0 thousand of Convertible Notes in exchange for an aggregate of approximately 4.1 thousand shares of Company common stock, par value $0.01 per share.
Components of total interest expense | The following table sets forth interest expense recognized related to the Company's debt for the three months ended March 31, 2021 and 2020, respectively:
|  | Three Months Ended March 31, |  |
(in thousands) |  | 2021 |  | 2020 |  |  |  |
Contractual interest expense |  | $ | 7,521 |  |  | $ | 3,585 |  |  |  |  |
Amortization of debt discount |  | $ | 332 |  |  | $ | 206 |  |  |  |  |
Amortization of deferred financing |  | $ | 223 |  |  | $ | 25 |  |  |  |  |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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- References No definition available. + Details
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- Definition Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities. + References No definition available. + Details
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