DEBT (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Debt Disclosure [Abstract] |
|
| Components of Debt |
The components of the Company’s debt are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective Interest Rate |
Contractual Maturity Date |
As of December 31, |
|
2022 |
|
2021 |
| Principal amounts: |
|
|
|
|
|
| Second Lien Notes |
15% |
December 2026 |
$ |
73,182 |
|
|
$ |
— |
|
| Senior Notes |
N/A |
N/A |
— |
|
|
75,193 |
|
| Acquisition Facility |
15% |
December 2024 |
65,000 |
|
|
40,000 |
|
| Acquisition-related promissory notes payable |
8% - 18% |
August 2024 - April 2027 |
57,216 |
|
|
25,767 |
|
Other debt (1)
|
7% - 9% |
March 2022 - July 2027 |
10,960 |
|
|
8,555 |
|
| Total debt - principal amounts |
|
|
$ |
206,358 |
|
|
$ |
149,515 |
|
| Less: debt issuance costs and original issue discounts |
|
|
(17,096) |
|
|
(23,536) |
|
| Total debt - carrying amounts |
|
|
$ |
189,262 |
|
|
$ |
125,979 |
|
| Debt, net - current portion |
|
|
$ |
8,704 |
|
|
$ |
6,181 |
|
| Debt, net - non-current portion |
|
|
$ |
180,558 |
|
|
$ |
119,798 |
|
|
| Schedule of Future Contractual Debt Maturities |
As of December 31, 2022, aggregate future contractual maturities of the Company’s debt are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
2024 |
2025 |
2026 |
2027 |
|
Total |
| Second Lien Notes |
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
73,182 |
|
$ |
— |
|
|
$ |
73,182 |
|
| Acquisition Facility |
4,875 |
|
60,125 |
|
— |
|
— |
|
— |
|
|
65,000 |
|
| Acquisition-related promissory notes payable |
3,448 |
|
22,385 |
|
1,970 |
|
6,971 |
|
22,442 |
|
|
57,216 |
|
| Other debt |
3,386 |
|
137 |
|
148 |
|
158 |
|
7,131 |
|
|
10,960 |
|
| Total |
$ |
11,709 |
|
$ |
82,647 |
|
$ |
2,118 |
|
$ |
80,311 |
|
$ |
29,573 |
|
|
$ |
206,358 |
|
|
| Schedule of Interest Expense |
Interest expense, net is comprised of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
| Interest and accretion - Senior Notes |
|
|
|
|
$ |
23,268 |
|
|
$ |
19,257 |
|
|
$ |
12,095 |
|
| Interest and accretion - Second Lien Notes |
|
|
|
|
578 |
|
|
— |
|
|
— |
|
| Interest - Finance lease liabilities |
|
|
|
|
11,154 |
|
|
9,158 |
|
|
2,451 |
|
| Interest and accretion - Acquisition Facility |
|
|
|
|
7,264 |
|
|
1,106 |
|
|
— |
|
| Interest and accretion - Promissory notes |
|
|
|
|
5,518 |
|
|
1,802 |
|
|
1,903 |
|
| Interest and accretion - Other debt |
|
|
|
|
567 |
|
|
507 |
|
|
189 |
|
| Capitalized interest |
|
|
|
|
(2,616) |
|
|
(977) |
|
|
(1,074) |
|
| Total interest expense |
|
|
|
|
$ |
45,733 |
|
|
$ |
30,853 |
|
|
$ |
15,564 |
|
| Interest income |
|
|
|
|
$ |
(142) |
|
|
$ |
(243) |
|
|
$ |
(231) |
|
| Total interest expense, net |
|
|
|
|
$ |
45,591 |
|
|
$ |
30,610 |
|
|
$ |
15,333 |
|
|