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Borrowings (Tables) | 9 Months Ended
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Sep. 30, 2022
Debt Disclosure [Abstract] |
Summary of Carrying Amount of Principal Borrowings | Carrying amount of borrowings consist of the following (in thousands):
|  | September 30, 2022 |  |  | December 31, 2021 |
Senior convertible notes |  | $ | 225,034 |  |  | $ | 223,944 |
MidCap credit facility |  |  | 39,155 |  |  |  | 38,833 |
Mann Group convertible note |  |  | 8,829 |  |  |  | 18,425 |
Total debt — net carrying amount |  | $ | 273,018 |  |  | $ | 281,202 |
Schedule of Line of Credit Facility Debt and Key Terms | The following table provides a summary of the Company’s principal balance of debt and key terms:
|  | Amount Due |  | Terms
|  | September 30, 2022 |  | December 31, 2021 |  | Annual Interest Rate |  |  |  |  | Maturity Date |  |  |  | Conversion Price
Senior convertible notes |  | $230.0 million |  | $230.0 million |  | 2.50% |  |  |  |  | March 2026 |  |  |  | $5.21 per share
MidCap credit facility(1) |  | $40.0 million |  | $40.0 million |  | one-month SOFR (1% floor) plus 6.25%; cap of 8.25% |  |  | (1 | ) | August 2025 |  | (1 | ) | N/A
Mann Group convertible note |  | $8.8 million |  | $18.4 million (plus $0.4 million accrued interest paid-in-kind) |  | 2.50% |  |  | (2 | ) | December 2025 |  | (2 | ) | $2.50 per share
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(1) | In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.
In August 2022, the Company amended the MidCap credit facility and transitioned the benchmark interest rate from LIBOR to the Secured Overnight Financing Rate (“SOFR”). The interest rate prior to the amendment was one-month LIBOR (1% floor) plus 6.25% (cap of 8.25%).
(2) | In April 2021, the Mann Group convertible note was amended. The interest rate prior to and after the amendment was 7.00% and the maturity date was in November 2024.
Schedule of Maturities of Our Borrowings | The maturities of the Company’s borrowings as of September 30, 2022 are as follows (in thousands):
|  | Amounts |
2022 |  | $ | — |
2023 |  |  | 6,667 |
2024 |  |  | 20,000 |
2025 |  |  | 22,163 |
Thereafter |  |  | 230,000 |
Total principal payments |  |  | 278,830 |
Unamortized discount |  |  | (269 | )
Debt issuance costs |  |  | (5,543 | )
Total debt — net carrying amount |  | $ | 273,018 |
Schedule of Amortization of Debt Premium and Accretion of Debt Discount and Debt Issuance Cost | Amortization of debt discount and debt issuance cost related to all borrowings for the three and nine months ended September 30, 2022 and 2021 were as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Amortization of debt discount |  | $ | 108 |  |  | $ | 109 |  |  | $ | 321 |  |  | $ | 255 |
Amortization of debt issuance cost |  |  | 363 |  |  |  | 363 |  |  |  | 1,089 |  |  |  | 852 |

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