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LONG-TERM DEBT (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:

(in thousands)						June 30, 2025						December 31, 2024
Senior secured term loans						$	159,725					$	232,800
Super senior term loan						12,469						—
Total principal debt						172,194						232,800
Plus: Unamortized premium						24,608						—
Less: Unamortized discount						(1,904)						(1,372)
Less: Unamortized debt issuance and amendment costs						(1,032)						(884)
Long-term debt, net						193,866						230,544
Less: Current maturities of long-term debt						(1,225)						(230,544)
Total long-term debt						$	192,641					$	—

Schedule of Principal Payments

Principal payments are due as follows:

(in thousands)			Total
2025			$	613
2026			1,225
2027			1,225
2028			1,225
2029			14,474
2030			153,432
Total debt			$	172,194

Schedule of Line of Credit Facilities

The carrying value of the New Facility was determined as follows:

(in thousands)			Total
SSTL immediately before the Debt Exchange Transaction			$	232,800
Unamortized debt issuance costs and discount immediately before the Debt Exchange Transaction			(1,296)
Less: fair value of equity issued to the SSTL lenders			(45,370)
Less: fees paid to third parties on behalf of the SSTL lenders			(1,145)
Carrying value of the New Facility			$	184,989
Comprised of:
Par value of the New Facility			$	160,000
Premium			26,285
Unamortized debt issuance costs and discount			(1,296)
Carrying value of the New Facility			$	184,989

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