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Borrowings (Tables)

3 Months Ended

Mar. 31, 2023

2025 Notes

Debt Instrument [Line Items]

Components of Interest Expense and Related Fees

The components of interest expense and related fees for the 2025 Notes are as follows (in thousands):

		Three Months Ended						Three Months Ended
		March 31, 2023						March 31, 2022
Stated interest expense		$		3,194				$		2,188
Amortization of deferred financing costs				504						298
Total interest and amortization of deferred financing costs		$		3,698				$		2,486
Weighted average effective interest rate				8.1		%				8.0		%
Weighted average outstanding balance		$		182,500				$		125,000

August 2026 Notes

Debt Instrument [Line Items]

Components of Interest Expense and Related Fees

The components of interest expense and related fees for the 2026 Notes are as follows (in thousands):

		Three Months Ended						Three Months Ended
		March 31, 2023						March 31, 2022
Stated interest expense		$		1,367				$		1,352
Amortization of deferred financing costs				144						144
Total interest and amortization of deferred financing costs		$		1,511				$		1,496
Weighted average effective interest rate				4.8		%				4.8		%

December 2026 Notes

Debt Instrument [Line Items]

Components of Interest Expense and Related Fees

The components of interest expense and related fees for the December 2026 Notes are as follows (in thousands):

		Three Months Ended							Three Months Ended
		March 31, 2023							March 31, 2022
Stated interest expense		$		797				$		797
Amortization of deferred financing costs				93						93
Total interest and amortization of deferred financing costs		$		890				$		890
Weighted average effective interest rate				4.7		%				4.7		%

6.00% Convertible Notes due 2025

Debt Instrument [Line Items]

Summary of Carrying Value of Convertible Notes

The components of the carrying value of the Convertible Notes were as follows (in thousands):

	March 31, 2023						March 31, 2022
Principal amount of debt	$		50,000				$		50,000
Unamortized debt financing cost			(1,015	)					(1,391	)
Original issue discount, net of accretion			(707	)					(970	)
Carrying value of Convertible Notes	$		48,278				$		47,639

Components of Interest Expense and Related Fees

The components of interest expense and related fees for the Convertible Notes were as follows (in thousands):

		Three Months Ended						Three Months Ended
	March 31, 2023						March 31, 2022
Stated interest expense	$		750				$		750
Amortization of deferred financing costs and original issue discount			160						160
Total interest and amortization of deferred financing costs and original issue discount	$		910				$		910
Weighted average effective interest rate			7.3		%				7.3		%

KeyBank Credit Facility

Debt Instrument [Line Items]

Components of Interest Expense and Related Fees

The summary information regarding the KeyBank Credit Facility is as follows (dollars in thousands):

		Three Months Ended						Three Months Ended
	March 31, 2023						March 31, 2022
Stated interest expense	$		3,868				$		851
Amortization of deferred financing costs			204						120
Total interest and amortization of deferred financing costs	$		4,072				$		971
Weighted average effective interest rate			8.3		%				4.7		%
Weighted average outstanding balance	$		197,111				$		81,900

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Schedule of Carrying Value of Convertible Notes.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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