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LONG-TERM DEBT (Tables) | 9 Months Ended
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Sep. 30, 2024
LONG-TERM DEBT |
Schedule of outstanding indebtedness, at face value | As of September 30, 2024, the Company’s outstanding indebtedness, at face value, was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Face Value Debt |  | Maturity Date |  | Interest Rate |  | Wtd. Avg. Rate as of September 30, 2024
Credit Facility (1) | ​ | $ | 95,000 | ​ | January 2027 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 5.82%
2026 Term Loan (2) | ​ | ​ | 65,000 | ​ | March 2026 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 2.72%
2027 Term Loan (3) | ​ | ​ | 100,000 | ​ | January 2027 | ​ | ​ | SOFR + 0.10% + [1.25% - 2.20%] | ​ | ​ | 2.80%
2028 Term Loan (4) | ​ | ​ | 100,000 | ​ | January 2028 | ​ | ​ | SOFR + 0.10% + [1.20% - 2.15%] | ​ | ​ | 5.18%
2029 Term Loan (5) | ​ | ​ | 100,000 | ​ | September 2029 | ​ | ​ | SOFR + 0.10% + [1.20% - 2.15%] | ​ | ​ | 4.68%
3.875% Convertible Senior Notes due 2025 | ​ | ​ | 51,034 | ​ | April 2025 | ​ | ​ | 3.875% | ​ | ​ | 3.88%
Mortgage Note Payable | ​ | ​ | 17,800 | ​ | August 2026 | ​ | ​ | 4.060% | ​ | ​ | 4.06%
Total Long-Term Face Value Debt | ​ | $ | 528,834 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4.28%
(1) | Prior to September 30, 2024, the Company utilized interest rate swaps on $150.0 million of the Credit Facility balance to fix SOFR and achieve a weighted average fixed swap rate of 3.47% plus the 10 bps SOFR adjustment plus the applicable spread. Effective September 30, 2024, the Company redesignated $100.0 million of interest rate swaps to the 2029 Term Loan. Accordingly, as of September 30, 2024, the Company utilized interest rate swaps on $50.0 million of the Credit Facility balance to fix SOFR and achieve a weighted average fixed swap rate of 3.85% plus the 10 bps SOFR adjustment plus the applicable spread.
(2) The Company utilized interest rate swaps on the $65.0 million 2026 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 1.27% plus the 10 bps SOFR adjustment plus the applicable spread.
(3) | The Company utilized interest rate swaps on the $100.0 million 2027 Term Loan balance to fix SOFR and achieve a fixed swap rate of 1.35% plus the 10 bps SOFR adjustment plus the applicable spread.
(4) | The Company utilized interest rate swaps on the $100.0 million 2028 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 3.78% plus the 10 bps SOFR adjustment plus the applicable spread.
(5) | The Company utilized interest rate swaps on the $100.0 million 2029 Term Loan balance to fix SOFR and achieve a weighted average fixed swap rate of 3.28% plus the 10 bps SOFR adjustment plus the applicable spread.
Schedule of components of long-term debt | Long-term debt consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ |  | Total |  | Due Within One Year |  | Total |  | Due Within One Year
Credit Facility | ​ | $ | 95,000 | ​ | $ | — | ​ | $ | 163,000 | ​ | $ | —
2026 Term Loan | ​ | ​ | 65,000 | ​ | ​ | — | ​ | ​ | 65,000 | ​ | ​ | —
2027 Term Loan | ​ | ​ | 100,000 | ​ | ​ | — | ​ | ​ | 100,000 | ​ | ​ | —
2028 Term Loan | ​ | ​ | 100,000 | ​ | ​ | — | ​ | ​ | 100,000 | ​ | ​ | —
2029 Term Loan | ​ | ​ | 100,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
3.875% Convertible Senior Notes, net of Discount | ​ | ​ | 50,949 | ​ | ​ | — | ​ | ​ | 50,830 | ​ | ​ | —
Mortgage Note Payable | ​ | ​ | 17,800 | ​ | ​ | — | ​ | ​ | 17,800 | ​ | ​ | —
Financing Costs, net of Accumulated Amortization | ​ | ​ | (1,911) | ​ | ​ | — | ​ | ​ | (1,260) | ​ | ​ | —
Total Long-Term Debt | ​ | $ | 526,838 | ​ | $ | — | ​ | $ | 495,370 | ​ | $ | —
Schedule of payments applicable to reduction of principal amounts | ​ Payments applicable to reduction of principal amounts as of September 30, 2024 will be required as follows (in thousands): ​
​ | ​ | ​ | ​
As of September 30, 2024 |  | Amount
Remainder of 2024 | ​ | $ | —
2025 | ​ | ​ | 51,034
2026 | ​ | ​ | 82,800
2027 | ​ | ​ | 195,000
2028 | ​ | ​ | 100,000
2029 | ​ | ​ | 100,000
2030 and Thereafter | ​ | ​ | —
Total Long-Term Debt - Face Value | ​ | $ | 528,834
Schedule of carrying value of long-term debt | The carrying value of long-term debt as of September 30, 2024 consisted of the following (in thousands): ​
​ | ​ | ​ | ​
​ |  | Total
Current Face Amount | ​ | $ | 528,834
Unamortized Discount on Convertible Debt | ​ | ​ | (85)
Financing Costs, net of Accumulated Amortization | ​ | ​ | (1,911)
Total Long-Term Debt | ​ | $ | 526,838
Schedule of interest expense on debt | The following table reflects a summary of interest expense incurred and paid during the three and nine months ended September 30, 2024 and 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, 2024 | ​ | September 30, 2023 | ​ | September 30, 2024 | ​ | September 30, 2023
Interest Expense | ​ | $ | 5,348 | ​ | $ | 6,036 | ​ | $ | 15,888 | ​ | $ | 15,318
Amortization of Deferred Financing Costs | ​ | ​ | 245 | ​ | ​ | 242 | ​ | ​ | 758 | ​ | ​ | 724
Amortization of Discount on Convertible Notes | ​ | ​ | 39 | ​ | ​ | 40 | ​ | ​ | 119 | ​ | ​ | 119
Total Interest Expense | ​ | $ | 5,632 | ​ | $ | 6,318 | ​ | $ | 16,765 | ​ | $ | 16,161
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total Interest Paid (1) | ​ | $ | 4,986 | ​ | $ | 5,589 | ​ | $ | 15,640 | ​ | $ | 15,178
(1) | Net of capitalized interest of $0.1 million during the three and nine months ended September 30, 2024 and capitalized interest of $0.1 million and $0.2 million during the three and nine months ended September 30, 2023, respectively.

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