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NEW CREDIT AGREEMENT (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of carrying value of the current and non-current components of the term loan | The carrying value of the current and non-current components of the Term Facility as of the years ended December 31:
|  | Current
(in thousands) |  | 2024 |  | 2023
Current borrowing on debt |  | $ | — |  |  | $ | 3,000 |
Deferred financing costs |  | — |  |  | (2,150) |
Current debt, net of deferred financing costs |  | $ | — |  |  | $ | 850 |
| Non-Current
(in thousands) | 2024 |  | 2023
Non-current borrowing on debt | $ | — |  |  | $ | 291,000 |
Deferred financing costs | — |  |  | (6,181) |
Non-current debt, net of deferred financing costs and current component | $ | — |  |  | $ | 284,819 |
The carrying value of the current and non-current components of the Term Loan A as of the years ended December 31:
|  | Current
(in thousands) |  | 2024 |  | 2023
Current borrowing on debt |  | $ | 10,156 |  |  | $ | — |
Deferred financing costs |  | (984) |  |  | — |
Current debt, net of deferred financing costs |  | $ | 9,172 |  |  | $ | — |
|  | Non-Current
(in thousands) |  | 2024 |  | 2023
Non-current borrowing on debt |  | $ | 312,813 |  |  | $ | — |
Deferred financing costs |  | (3,705) |  |  | — |
Non-current debt, net of deferred financing costs and current component |  | $ | 309,108 |  |  | $ | — |
Schedule of contractual maturity of term loan and DDTL | The contractual maturity of the Term Loan A is as follows for the period ending:
(in thousands) | New Term Facility
2025 | $ | 10,156 |
2026 | 18,281 |
2027 | 24,375 |
2028 | 24,375 |
2029 | 245,782 |
Total | $ | 322,969 |
Schedule of components of total interest expense related to the notes and term loan | The following table sets forth the components of total interest expense related to the Term Facility recognized in the accompanying consolidated statements of operations for the years ended December 31:
(in thousands) | 2024 |  | 2023 |  | 2022
Contractual coupon | $ | 16,644 |  | $ | 30,692 |  | $ | 26,150
Amortization of deferred financing costs | 1,477 |  | 2,364 |  | 2,363
| $ | 18,121 |  | $ | 33,056 |  | $ | 28,513
The following table sets forth the components of total interest expense, net recognized in the accompanying consolidated statements of operations for the years ended December 31:
(in thousands) | 2024 |  | 2023 |  | 2022
Contractual coupon interest expense, Truist | $ | 20,993 |  | $ | 33,270 |  | $ | 23,870
Contractual coupon interest expense, Term Loan A | 7,264 |  | — |  | —
Contractual coupon interest expense, Convertible Notes | 2,747 |  | — |  | —
Amortization of deferred financing costs | 2,624 |  | 2,364 |  | 2,363
Interest expense on interest rate swap | — |  | — |  |  | 2,280 |
Interest expense | 33,628 |  | 35,634 |  |  | 28,513 |
Capitalized interest related to Construction in Progress | (492) |  | (588) |  |  | (95) |
Interest and dividend income on bank balances | (9,268) |  | (5,528) |  | (366)
Interest income on interest rate swap | (6,266) |  | (2,578) |  | —
Interest income | (16,026) |  | (8,694) |  | (461)
Interest expense, net | $ | 17,602 |  | $ | 26,940 |  | $ | 28,052

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