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Debt (Tables)
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Liability Components of Long-Term Debt
The Company's debt consists of the following:
(in thousands)June 30, 2021December 31, 2020
Senior Secured Term Loan due 2026:
Principal$400,000 $400,000 
Less: debt discount (1)
(6,794)(7,434)
Less: deferred financing (1)
(5,111)(5,592)
Net carrying value of the Senior Secured Term Loan$388,095 $386,974 
Convertible Notes (2):
Principal (3)
$2,800 $2,825 
Less: debt discount (1)
(438)(518)
Less: deferred financing (1)
(23)(27)
Net carrying value of the Convertible Notes$2,339 $2,280 
Net carrying value of Long-term debt$390,434 $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 thousand of Convertible Notes in exchange for an aggregate of approximately 4.1 thousand shares of the 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 and six months ended June 30, 2021 and 2020, respectively:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2021202020212020
Contractual interest expense$7,604 $3,410 $15,125 $6,995 
Amortization of debt discount$383 $268 $720 $474 
Amortization of deferred financing$262 $33 $485 $58