XML 74 R45.htm IDEA: XBRL DOCUMENT
v3.25.3

SENIOR NOTES PAYABLE (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Term Loans and Revolving Credit Facilities | Term loans and revolving credit facilities are comprised of the following:
| June 30, 2025 |  | December 31, 2024
| Interest Rate |  | Principal |  | Interest Rate |  | Principal
Term Loans: |  |  |  |  |  |  |
Lingo Term Loan | — |  |  | $ | — |  |  | 7.91 | % |  | $ | 52,925 |
Nomura Term Loan | — |  |  | — |  |  | 11.52 | % |  | 122,538 |
BRPAC Term Loan | 7.44 | % |  | 72,000 |  |  | 7.42 | % |  | 30,106 |
Oaktree Term Loan | 12.33 | % |  | 63,035 |  |  | — |  |  | — |
Subtotal |  |  | 135,035 |  |  |  |  | 205,569 |
Less: Unamortized debt issuance costs and discount |  |  | (10,451) |  |  |  |  | (6,140) |
Total Term Loans |  |  | $ | 124,584 |  |  |  |  | $ | 199,429 |
|  | Weighted Average |  |  |  |
|  | Interest Rate |  | Principal
|  | June 30, 2025 |  | June 30, 2025 |  | December 31, 2024
Revolver Loan: |  |  |  |  |  |
Targus Revolver Loan |  | 9.90 | % |  | $ | 12,075 |  |  | $ | 16,329 |
Senior notes payable, net, are comprised of the following:
| June 30, 2025 |  | December 31, 2024
Senior Notes Payable: |  |  |
6.375% Senior notes due February 28, 2025 | $ | — |  |  | $ | 145,211 |
5.50% Senior notes due March 31, 2026 | 101,378 |  |  | 216,662 |
6.50% Senior notes due September 30, 2026 | 180,484 |  |  | 180,464 |
5.00% Senior notes due December 31, 2026 | 197,012 |  |  | 322,667 |
8.00% New Notes due January 1, 2028 | 247,468 |  |  | — |
6.00% Senior notes due January 31, 2028 | 218,445 |  |  | 264,345 |
5.25% Senior notes due August 31, 2028 | 378,985 |  |  | 401,307 |
Subtotal | 1,323,772 |  |  | 1,530,656 |
Less: Unamortized debt issuance costs | (45) |  |  | (95) |
Total Senior Note Payable | $ | 1,323,727 |  |  | $ | 1,530,561 |
Schedule of Senior Notes and New Notes Issued | The exchange date, senior notes exchanged, New Notes issued and the issuance of warrants in conjunction with each of the four private exchange transactions (see Note 19 — Stockholder’s Equity for discussion of the warrants) during the six months ended June 30, 2025, is summarized in the following table:
|  | Exchange Date |  | Total
|  | March 26, 2025 |  | April 7, 2025 |  | May 21, 2025 |  | June 30, 2025 |
5.00% Senior Notes due 2026 |  | $ | 36,745 |  |  | $ | 7,000 |  |  | $ | 75,000 |  |  | $ | 8,021 |  |  | $ | 126,766 |
5.50% Senior Notes due 2026 |  | 86,309 |  |  | — |  |  | 29,535 |  |  | — |  |  | 115,844 |
5.25% Senior Notes due 2028 |  | — |  |  | 5,000 |  |  | — |  |  | 18,096 |  |  | 23,096 |
6.00% Senior Notes due 2028 |  | — |  |  | 10,000 |  |  | 34,537 |  |  | 1,892 |  |  | 46,429 |
Total exchanged Senior Notes principal |  | $ | 123,054 |  |  | $ | 22,000 |  |  | $ | 139,072 |  |  | 28,009 |  |  | $ | 312,135 |
8.00% New Notes principal due in 2028 |  | $ | 87,753 |  |  | $ | 9,992 |  |  | $ | 93,067 |  |  | $ | 13,000 |  |  | 203,812 |
Warrants issued with the exchange (Note 19) |  | 351,012 |  |  | 39,968 |  |  | 372,268 |  |  | 52,000 |  |  | 815,248 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration