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v3.25.1

NEW CREDIT AGREEMENT (Tables) | 3 Months Ended
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Mar. 31, 2025
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 New Credit Facility as of March 31, 2025 and December 31, 2024 are:
| Current
(in thousands) | March 31, 2025 |  | December 31, 2024
Current borrowing on debt | $ | 12,188 |  |  | $ | 10,156 |
Deferred financing costs | (995) |  |  | (984) |
Current debt, net of deferred financing costs | $ | 11,193 |  |  | $ | 9,172 |
| Non-Current
(in thousands) | March 31, 2025 |  | December 31, 2024
Non-current borrowing on debt | $ | 308,750 |  |  | $ | 312,813 |
Deferred financing costs | (3,456) |  |  | (3,705) |
Non-current debt, net of deferred financing costs and current component | $ | 305,294 |  |  | $ | 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 Credit Facility
2025 (remainder of the year) | $ | 8,125 |
2026 | 18,281 |
2027 | 24,375 |
2028 | 24,375 |
2029 | 245,782 |
Total | $ | 320,938 |
Schedule of components of total interest expense related to the notes and term loan | The following table sets forth the total interest expense related to the Credit Facility, as recognized in the accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31,
(in thousands) | 2025 |  | 2024
Contractual coupon | $ | — |  |  | $ | 6,913 |
Amortization of deferred financing costs | — |  |  | 591 |
Capitalized interest | — |  |  | (112) |
| $ | — |  |  | $ | 7,392 |
The following table sets forth the components of total interest expense, net recognized in the accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31,
(in thousands) | 2025 |  | 2024
Contractual coupon interest expense, Truist | $ | — |  | $ | (8,511)
Contractual coupon interest expense, Term Loan A | (5,529) |  | —
Contractual coupon interest expense, Convertible Notes | (1,759) |  | —
Amortization of deferred financing costs | (819) |  | (591)
Interest expense | (8,107) |  |  | (9,102) |
Capitalized interest related to Construction in Progress | 65 |  | 112
Interest and dividend income on bank balances | 1,320 |  | 2,791
Interest income on interest rate swap | 1,238 |  | 1,599
Interest income | 2,623 |  | 4,502
Interest expense, net | $ | (5,484) |  | $ | (4,600)

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