Quarterly report [Sections 13 or 15(d)]

DEBT (Tables)

v3.25.1
DEBT (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Components of Debt
The components of the Company’s debt are as follows:
Effective Interest Rate Maturity Date March 31, 2025 (unaudited) December 31, 2024
Principal amounts:
Second Lien Notes 15% December 2026 $ 85,334  $ 80,131 
Term Loans
26%
September 2026 (1)
48,500  48,500 
Acquisition-related promissory notes payable
8% - 12%
October 2025 - April 2027
28,512  22,289 
Mortgage loans
6% - 10%
January 2027 - April 2028
28,903  29,054 
Total debt subject to scheduled repayments 191,249  179,974 
Promissory notes payable to Sammartino (2)
10%
September 2024 - September 2026
21,500  21,500 
Total debt 212,749  201,474 
Less: debt issuance costs and original issue discounts (15,849) (15,267)
Total debt, net $ 196,900  $ 186,207 
Debt, net - current portion $ 3,848  $ 2,758 
Debt, net - non-current portion $ 193,052  $ 183,449 
(1)Matures the earlier of (a) January 31, 2027 and (b) the date that is 91 days prior to the final maturity of the Second Lien Notes. The Second Lien Notes are set to mature December 2026.
(2)This amount is related to the promissory notes issued to Sammartino in connection with the acquisition of Nature's Remedy in September 2021. The Company currently has no obligation to pay the principal and interest. See further discussion of the Sammartino Matter in Note 16 - Commitments and Contingencies for more information.
Schedule of Future Contractual Debt Maturities
As of March 31, 2025, aggregate future scheduled repayments of the Company’s debt were as follows:
Remainder of the year 2026 2027 2028 Total
Second Lien Notes $ —  $ 85,334  $ —  $ —  $ 85,334 
Acquisition-related promissory notes payable 175  6,223  22,114  —  28,512 
Mortgage loans 506  690  9,389  18,318  28,903 
Term Loans
2,425  46,075  —  —  48,500 
Total debt subject to scheduled repayments $ 3,106  $ 138,322  $ 31,503  $ 18,318  $ 191,249 
Schedule of Interest Expense
Interest expense, net is comprised of the following:
Three Months Ended March 31,
2025 2024
Interest expense
Interest and accretion - Second Lien Notes $ 3,103  $ 2,748 
Interest and accretion - Term Loans
3,190  — 
Interest and accretion - Finance lease liabilities 2,475  2,668 
Interest and accretion - Promissory notes
814  1,374 
Interest and accretion - Acquisition Facility —  2,152 
Interest and accretion - Mortgage loans and other financing activities 602  706 
Capitalized interest (62) — 
Total interest expense 10,122  9,648 
Interest income (122) (104)
Total interest expense, net $ 10,000  $ 9,544