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Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Summary of Borrowings under Credit Agreement

At June 30, 2021 and December 31, 2020, total borrowings under the Successor Credit Agreement, Amended Credit Agreement, and 2026 Notes consisted of the following, respectively:

		June 30, 2021				December 31, 2020
Non-current indebtedness:
Term Loan		$	—			$	262,653,996
Revolving Credit Facility			—				—
Convertible Senior Debt			440,000,000				—
Total borrowings under credit facility and convertible senior debt (1)			440,000,000				262,653,996
Less: Current maturities of long-term debt (2)			—				6,760,650
Less: Long-term loan debt issuance cost (3)			12,049,700				5,940,600
Total non-current borrowings		$	427,950,300			$	249,952,746

⁽¹⁾ The Term Loan, Delayed Draw Term Loan and Revolving Credit Facility beared interest, at variable rates, which were 3.65% at December 31, 2020.

⁽²⁾ Pursuant to the terms of the Amended Credit Agreement, the Company was required to make quarterly principal payments equal to 0.625% of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”).

⁽³⁾ The Company incurred $0.7 million and $1.2 million of interest expense for the amortization of deferred debt issuance costs for the three and six months ended June 30, 2021, respectively. The Company incurred $1.4 million of interest expense for the amortization of deferred debt issuance costs for the year ended December 31, 2020.

Summary of Principal Maturities of Long-term Debt

Following is a summary of principal maturities of long‑term debt for each of the next five years ending December 31 and in the aggregate:

2021		$	—
2022			—
2023			—
2024			—
2025			—
2026			440,000,000
		$	440,000,000

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