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Long Term Debt, Net (Tables) | 9 Months Ended
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Sep. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Extinguishment of Debt | The composition of the loss on extinguishment of debt was as follows (amounts in thousands):
| January 19, 2024
Unamortized deferred financing costs | $ | 781 |
Unamortized original issue discount | 120 |
Prepayment premium | 500 |
Loss on extinguishment of debt | $ | 1,401 |
Schedule of Original Discount and Deferred Financing Costs | Original issue discount and deferred financing costs incurred as part of the Credit Facilities were allocated between the Term Loan Facility and the Revolving Credit Facility on the basis of the maximum potential principal outstanding permitted under the Citizens Credit Agreement. The allocation of the deferred financing costs and original issue discount between the Term Loan Facility and the Revolving Credit Facility were as follows (in thousands):
| January 19, 2024 |
| Term Loan Facility |  | Revolving Credit Facility |  | Total |
| Long term debt, net |  | Other assets |  |  |
Original issue discount | $ | 224 |  |  | $ | 839 |  |  | $ | 1,063 |  |
Deferred financing costs | 54 |  |  | 202 |  |  | 256 |  |
Schedule of the Balances of the Loan Facility and Agreement | The balances of the Term Loan Facility as of September 30, 2024 and the Hayfin Term Loan as of December 31, 2023 were as follows (in thousands):
| September 30, 2024 |  | December 31, 2023 |  |
| Current portion of long term debt |  | Long term debt, net |  | Current portion of long term debt |  | Long term debt, net |  |
Outstanding principal | $ | 1,000 |  |  | $ | 18,250 |  |  | $ | 1,000 |  |  | $ | 49,000 |  |  |
Deferred financing costs | — |  |  | (42) |  |  | — |  |  | (781) |  |  |
Original issue discount | — |  |  | (190) |  |  | — |  |  | (120) |  |  |
Long term debt, net | $ | 1,000 |  |  | $ | 18,018 |  |  | $ | 1,000 |  |  | $ | 48,099 |  |  |
Schedule of Interest Expense | Interest expense related to the Term Loan Facility and the Hayfin Term Loan included in interest expense, net in the unaudited condensed consolidated statements of operations, was as follows (amounts in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Stated interest | $ | 393 |  |  | $ | 1,554 |  |  | 1,451 |  |  | $ | 4,498 |  |  |
Amortization of deferred financing costs | 5 |  |  | 111 |  |  | 38 |  |  | 323 |  |  |
Accretion of original issue discount | 12 |  |  | 17 |  |  | 36 |  |  | 50 |  |  |
Interest expense | $ | 410 |  |  | $ | 1,682 |  |  | $ | 1,525 |  |  | $ | 4,871 |  |  |
Interest expense related to the Revolving Credit Facility included in Interest income (expense), net in the unaudited condensed consolidated statements of operations, was as follows (amounts in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
| 2024 |  | 2024 |  |
Commitment fee | $ | 47 |  |  | $ | 125 |  |  |
Amortization of deferred financing costs | 16 |  |  | 47 |  |  |
Accretion of original issue discount | 42 |  |  | 126 |  |  |
Interest expense | $ | 105 |  |  | $ | 298 |  |  |
Schedule of Principal Payments for the Term Loan Facility | A summary of principal payments due on the Term Loan Facility, by year, from September 30, 2024 through maturity are as follows (in thousands):
Year ending December 31, | Principal
2024 (excluding the nine months ended September 30, 2024) | $ | 250 |
2025 | 1,000 |
2026 | 1,500 |
2027 | 1,500 |
2028 | 2,000 |
Thereafter | 13,000 |
Outstanding principal | $ | 19,250 |

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