SENIOR NOTES PAYABLE

3 Months Ended

Mar. 31, 2024

Senior notes payable, net, are comprised of the following:


	March 31, 2024		December 31, 2023



6.750% Senior notes due May 31, 2024	$	25,000	$	140,492
6.375% Senior notes due February 28, 2025	146,432		146,432
5.500% Senior notes due March 31, 2026	217,440		217,440
6.500% Senior notes due September 30, 2026	180,532		180,532
5.000% Senior notes due December 31, 2026	324,714		324,714
6.000% Senior notes due January 31, 2028	266,058		266,058
5.250% Senior notes due August 31, 2028	405,483		405,483
	1,565,659		1,681,151
Less: Unamortized debt issuance costs	(12,043)		(13,130)
	$	1,553,616	$	1,668,021

The Company issued no senior notes during the three months ended March 31, 2024 and 2023. The maturity dates of senior notes ranged from May 2024 to August 2028 pursuant to At the Market Issuance Sales Agreements with B. Riley Securities, Inc. which governs the program of at-the-market sales of the Company’s senior notes. A series of prospectus supplements were filed by the Company with the SEC in respect of the Company’s offerings of these senior notes.

In June 2023, the Company entered into note purchase agreements in connection with the 6.75% Senior Notes due 2024 (“6.75% 2024 Notes”) that were issued for the Targus acquisition. The note purchase agreements had a repurchase date of June 30, 2023 on which date the Company repurchased 2,356,978 shares of its 6.75% 2024 Notes with an aggregate principal amount of $58,924. The repurchase price was equal to the aggregate principal amount, plus accrued and unpaid interest up to, but excluding, the repurchase date. The total repurchase payment included approximately $663 in accrued interest.

On February 29, 2024, the Company partially redeemed $115,492 aggregate principal amount of its 6.75% Senior Notes due 2024 (the “6.75% 2024 Notes”) pursuant to the seventh supplemental indenture dated December 3, 2021. The redemption price was equal to 100% of the aggregate principal amount, plus accrued and unpaid interest, up to, but excluding, the redemption date. The total redemption payment included approximately $628 in accrued interest.

On May 1, 2024, the Company announced that it has called for the full redemption equal to $25,000 aggregate principal amount of its 6.75% Senior Notes due 2024 (the “6.75% 2024 Notes”) on May 31, 2024. The redemption price is equal to 100% of the aggregate principal amount, plus any accrued and unpaid interest up to, but excluding, the Redemption Date, as set forth in each notice of redemption delivered to noteholders on May 1, 2024.

As of March 31, 2024 and December 31, 2023, total senior notes outstanding was $1,553,616 (net of unamortized debt issue costs of $12,043) and $1,668,021 (net of unamortized debt issue costs of $13,130), respectively, with a weighted average interest rate of 5.63% and 5.71%, respectively. Interest on senior notes is payable on a quarterly basis. Interest expense on senior notes totaled $24,438 and $26,227 during the three months ended March 31, 2024 and 2023, respectively.