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Borrowings (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Summary of Carrying Amount of Borrowings | Carrying amount of the Company's borrowings consisted of the following (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
Senior convertible notes |  | $ | 227,941 |  |  | $ | 226,851 |
MidCap credit facility |  |  | — |  |  |  | 33,019 |
Mann Group convertible note |  |  | — |  |  |  | 8,829 |
Total debt – net carrying amount |  | $ | 227,941 |  |  | $ | 268,699 |
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, 2024 |  |  | December 31, 2023 |  | 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) |  | $ | — |  |  | $33.3 million |  | one-month SOFR (1% floor) plus 6.25%; cap of 8.25% |  | August 2025 |  | N/A
Mann Group convertible note(2) |  | $ | — |  |  | $8.8 million |  | 2.50% |  | December 2025 |  | $2.50 per share
_________________________ (1) Repaid on April 1, 2024. (2) Repaid on April 2, 2024.
Schedule of Maturities of Company's Borrowings | The maturities of the Company’s borrowings as of September 30, 2024 are as follows (in thousands):
|  | Amounts |
Remainder of 2024 |  | $ | — |
2025 |  |  | — |
2026 |  |  | 230,000 |
Total principal payments |  |  | 230,000 |
Debt issuance costs |  |  | (2,059 | )
Total debt |  | $ | 227,941 |
Schedule of Amortization of Premium and Accretion of Debt Issuance Costs | Amortization of the premium and accretion of debt issuance costs related to all borrowings were as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Amortization of debt discount and prepayment fee |  | $ | — |  |  | $ | 109 |  |  | $ | 85 |  |  | $ | 323 |
Amortization of debt issuance cost |  |  | 363 |  |  |  | 363 |  |  |  | 1,175 |  |  |  | 1,090 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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