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Long-term debt (including accrued interest to be paid-in-kind) as of the presented periods was comprised of the following:
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(in thousands) |
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Description |
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Issued |
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Maturity |
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Interest Rate |
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Interest Payable |
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June 30, 2023 |
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December 31, 2022 |
Francisco Partners Facility |
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November 2021 |
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April 2026 |
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9.25% |
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Quarterly |
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$120,023 |
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$120,023 |
Lockheed Martin Rollover Debt |
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March 2021 |
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April 2026 |
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9.25% |
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Quarterly |
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25,000 |
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25,000 |
Beach Point Rollover Debt |
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March 2021 |
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April 2026 |
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11.25% |
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Quarterly |
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32,056 |
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31,741 |
Convertible Notes due 2027 |
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October 2022 |
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October 2027 |
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10.00% |
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Quarterly |
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106,799 |
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101,699 |
PIPE Investment Obligation |
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March 2022 |
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December 2025 |
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N/A |
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N/A |
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20,625 |
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22,500 |
Equipment financings(1) |
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1,637 |
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859 |
Finance leases(2) |
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5,285 |
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411 |
Unamortized deferred issuance costs |
(2,893) |
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(3,073) |
Unamortized discount on debt |
(139,680) |
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(148,801) |
Total debt |
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168,852 |
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150,359 |
Current portion of long-term debt |
11,331 |
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7,739 |
Long-term debt |
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$157,521 |
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$142,620 |
(1) - Consists of equipment financing debt agreements, primarily entered into during 2023, with maturities through August 2028, annual interest rates ranging from 6.25% to 20.05%, and requiring monthly payments of interest and principal.
(2) - Refer to Note 14 “Leases” for further discussion.
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