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Borrowings (Tables)
3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Convertible Notes Payable The related principal, unamortized deferred issuance costs and carrying values as of March 31, 2024 and December 31, 2023 were as follows:
(in thousands)March 31, 2024December 31, 2023
Principal(1)
$214,378 $324,870 
Unamortized deferred issuance costs
(3,324)(5,514)
Carrying value
$211,054 $319,356 

(1) The Notes have an initial conversion rate of 27.8364 shares of common stock per $1 principal amount of Notes (which is subject to adjustment in certain circumstances). This is equivalent to an initial conversion price of approximately $35.92 per share. The conversion rate is subject to customary adjustments under certain circumstances in accordance with the terms of the Indenture.