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LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:

(in thousands)						September 30, 2025						December 31, 2024
Senior secured term loans						$	159,450					$	232,800
Super senior term loan						12,438						—
Total principal debt						171,888						232,800
Plus: Unamortized premium						23,391						—
Less: Unamortized discount						(1,807)						(1,372)
Less: Unamortized debt issuance and amendment costs						(979)						(884)
Long-term debt, net						192,493						230,544
Less: Current maturities of long-term debt						(1,225)						(230,544)
Total long-term debt						$	191,268					$	—

Schedule of Principal Payments

Principal payments are due as follows:

(in thousands)			Total
2025			$	306
2026			1,225
2027			1,225
2028			1,225
2029			14,474
2030			153,433
Total debt			$	171,888

Schedule of Carrying Value of New Facility

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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