Convertible Notes (Tables)

9 Months Ended

Sep. 30, 2021

Key terms of the Convertible Notes are as follows:


	2021 Notes			2020 Notes
Maturity date (unless earlier converted, repurchased or redeemed)		June 15, 2026			June 15, 2023
Interest rate		3.25	%		4.25	%
Conversion price	$	11.04		$	5.92
Conversion rate		90.5797			168.9189
Redemption price	$	14.35		$	7.70

The following table provides a summary of the carrying value of the Convertible Notes at September 30, 2021 and December 31, 2020:


	September 30, 2021									December 31,
	2021 Notes			2020 Notes			Total			2020
Principal amount	$	150,000		$	175,000		$	325,000		$	175,000
Plus: Premium		—			250			250			250

Gross proceeds		150,000			175,250			325,250			175,250
Less: Unamortized discount (1)		—			—			—			(4,207	)
Less: Unamortized issuance costs (1)		(4,045	)		(3,226	)		(7,271	)		(4,397	)

Carrying amount	$	145,955		$	172,024		$	317,979		$	166,646

Effective interest rate (2)		3.83%			5.26%			4.60%			6.29%

(1)

Unamortized discount was reduced by $4,207 and unamortized issuance costs increased by $119 upon the early adoption of ASU

2020-06

on January 1, 2021. The discount previously arose from the bifurcation of the conversion option which occurred prior to the adoption of ASU

2020-06.

The unamortized issuance costs are reported net of the unamortized premium.

(2)	Includes amortization of the issuance costs and premium. The effective interest rate prior to January 1, 2021 also included amortization of the discount arising from the bifurcation of the conversion option.