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v3.24.1.u1

Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024 |  |  |  |  | March 31, 2023 |  |  |
Stated interest expense |  | $ |  | 3,194 |  |  |  | $ |  | 3,194 |  |  |
Amortization of deferred financing costs |  |  |  | 498 |  |  |  |  |  | 504 |  |  |
Total interest and amortization of deferred financing costs |  | $ |  | 3,692 |  |  |  | $ |  | 3,698 |  |  |
Weighted average effective interest rate |  |  |  | 8.1 |  | % |  |  |  | 8.1 |  | % |
Weighted average outstanding balance |  | $ |  | 182,500 |  |  |  | $ |  | 182,500 |  |  |
For additional information regarding the 2025 Notes, see “Note 14. Subsequent Events.”
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, 2024 |  |  |  |  | March 31, 2023 |  |  |
Stated interest expense |  | $ |  | 1,367 |  |  |  | $ |  | 1,367 |  |  |
Amortization of deferred financing costs |  |  |  | 144 |  |  |  |  |  | 144 |  |  |
Total interest and amortization of deferred financing costs |  | $ |  | 1,511 |  |  |  | $ |  | 1,511 |  |  |
Weighted average effective interest rate |  |  |  | 4.8 |  | % |  |  |  | 4.8 |  | % |
Weighted average outstanding balance |  | $ |  | 125,000 |  |  |  | $ |  | 125,000 |  |  |
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, 2024 |  |  |  |  | March 31, 2023 |  |  |
Stated interest expense |  | $ |  | 797 |  |  |  | $ |  | 797 |  |  |
Amortization of deferred financing costs |  |  |  | 99 |  |  |  |  |  | 93 |  |  |
Total interest and amortization of deferred financing costs |  | $ |  | 896 |  |  |  | $ |  | 890 |  |  |
Weighted average effective interest rate |  |  |  | 4.8 |  | % |  |  |  | 4.7 |  | % |
Weighted average outstanding balance |  | $ |  | 75,000 |  |  |  | $ |  | 75,000 |  |  |
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, 2024 |  |  | March 31, 2023 |
Principal amount of debt |  | $ |  | 50,000 |  |  | $ |  | 50,000 |
Unamortized debt financing cost |  |  |  | (638 | ) |  |  |  | (1,015 | )
Original issue discount, net of accretion |  |  |  | (446 | ) |  |  |  | (707 | )
Carrying value of Convertible Notes |  | $ |  | 48,916 |  |  | $ |  | 48,278 |
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, 2024 |  |  |  | March 31, 2023 |  |
Stated interest expense |  | $ |  | 750 |  |  | $ |  | 750 |  |
Amortization of deferred financing costs and original issue discount |  |  |  | 166 |  |  |  |  | 160 |  |
Total interest and amortization of deferred financing costs and original issue discount |  | $ |  | 916 |  |  | $ |  | 910 |  |
Weighted average effective interest rate |  |  |  | 7.3 |  | % |  |  | 7.3 |  | %
Weighted average outstanding balance |  | $ |  | 50,000 |  |  | $ |  | 50,000 |  |
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, 2024 |  |  |  |  | March 31, 2023 |  |  |
Stated interest expense | $ |  | 4,843 |  |  |  | $ |  | 3,868 |  |  |
Amortization of deferred financing costs |  |  | 206 |  |  |  |  |  | 204 |  |  |
Total interest and amortization of deferred financing costs | $ |  | 5,049 |  |  |  | $ |  | 4,072 |  |  |
Weighted average effective interest rate |  |  | 9.1 |  | % |  |  |  | 8.3 |  | % |
Weighted average outstanding balance | $ |  | 221,086 |  |  |  | $ |  | 197,111 |  |  |

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