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LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt consists of the following:

(in thousands)						March 31, 2026						December 31, 2025
Senior secured term loans						$	158,900					$	159,175
Super senior term loan						12,360						12,391
Total principal debt						171,260						171,566
Plus: Unamortized premium						20,972						22,157
Less: Unamortized discount						(1,605)						(1,707)
Less: Unamortized debt issuance and amendment costs						(876)						(930)
Long-term debt, net						189,751						191,086
Less: Current maturities of long-term debt						(1,225)						(1,225)
Total long-term debt						$	188,526					$	189,861

Schedule of Principal Payments

Principal payments are due as follows:

(in thousands)			Total
2026			919
2027			1,225
2028			1,225
2029			14,458
2030			153,433
Total debt			$	171,260

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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