Convertible Senior Notes, Net (Tables)

9 Months Ended

Sep. 30, 2023

The following table summarizes the terms of the 2023 Notes as of September 30, 2023 ($ in thousands):


	Principal Amount		Coupon Rate		Effective Rate (1)		Conversion Rate (2)	Maturity Date	Remaining Period of Amortization

2023 Notes	176,064		5.38	%	5.74	%	48.7187	10/15/2023	0.04
Total	$	176,064

The following table summarizes the terms of the 2023 Notes as of December 31, 2022 ($ in thousands):


	Principal Amount		Coupon Rate		Effective Rate (1)		Conversion Rate (2)	Maturity Date	Remaining Period of Amortization
2023 Notes	230,000		5.38	%	5.85	%	48.7187	10/15/2023	0.79
Total	$	230,000

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(1)Effective rate includes the effect of the adjustment for the conversion option (See footnote (2) below), the value of which reduced the initial liability and

was recorded in additional paid-in-capital. The effective rate as of both September 30, 2023 and December 31, 2022 reflects adoption of ASU 2020-06 "Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity's Own Equity" ("ASU 2020-06") and early extinguishment of debt.

(2)We have the option to settle any conversions in cash, shares of common stock or a combination thereof. The conversion rate represents the number of shares of common stock issuable per one thousand principal amount of the Convertible Notes converted and includes adjustments relating to cash dividend payments made by us to stockholders that have been deferred and carried-forward in accordance with, and are not yet required to be made pursuant to, the terms of the applicable supplemental indenture.