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Debt
 9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]  
Debt Debt
The Company's debt consists of the following:
(in thousands)September 30, 2021December 31, 2020
Senior Secured Term Loan due 2026:
Principal$400,000 $400,000 
Less: debt discount (1)
(6,438)(7,434)
Less: deferred financing (1)
(4,843)(5,592)
Net carrying value of the Senior Secured Term Loan$388,719 $386,974 
Convertible Notes due 2023:
Principal$— $2,825 
Less: debt discount (1)
— (518)
Less: deferred financing (1)
— (27)
Net carrying value of the Convertible Notes$— $2,280 
Net carrying value of Long-term debt$388,719 $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.
During the first and third quarters of 2021, the Company entered into separate, privately negotiated exchange agreements with a limited number of holders ("Holders") of the unsecured Convertible Notes due in 2023 ("Convertible Notes"). Under the terms of the Exchange Agreements, the Holders agreed to exchange the remaining aggregate principal amount of $2.8 million of Convertible Notes held by them in exchange for an aggregate of approximately 472,356 shares of Company common stock, par value $0.01 per share. This transaction resulted in $2.7 million in additional paid-in-capital and common stock of five thousand dollars on the Consolidated Balance Sheets as of September 30, 2021. Additionally, the Company recognized a net loss from extinguishment of debt of $0.3 million in the Consolidated Statements of Operations during the nine months ended September 30, 2021.
Interest Expense
The following table sets forth interest expense recognized related to the Company's debt for the three and nine months ended September 30, 2021 and 2020, respectively:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2021202020212020
Contractual interest expense$7,681 $6,250 $22,806 $13,245 
Amortization of debt discount$383 $395 $1,098 $869 
Amortization of deferred financing$269 $197 $754 $255