DEBT - Narrative (Details)
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3 Months Ended |
6 Months Ended |
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Sep. 13, 2024
USD ($)
shares
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Jun. 02, 2024
USD ($)
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May 14, 2024
USD ($)
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Jan. 09, 2023
USD ($)
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Dec. 29, 2022
wk
day
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Jan. 27, 2022
USD ($)
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Jan. 07, 2022
USD ($)
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Nov. 27, 2021
day
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Nov. 05, 2021
USD ($)
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Sep. 27, 2021
USD ($)
$ / shares
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Mar. 31, 2026
USD ($)
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Mar. 31, 2025
USD ($)
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Mar. 31, 2026
USD ($)
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Mar. 31, 2025
USD ($)
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Feb. 08, 2026
USD ($)
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Sep. 30, 2025
USD ($)
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Aug. 07, 2024
USD ($)
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Jul. 27, 2024 |
Oct. 12, 2022
USD ($)
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| DEBT |
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| Volunteer principal prepayments (as percentage) |
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0.0100
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| Cash and cash equivalents held on hand domestically |
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$ 10,000,000
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| Consideration to be paid-in-kind (as a percent) |
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0.50%
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| Consideration to be paid in cash upon prepayments (as a percent) |
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0.50%
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| Consideration to be paid in cash upon permanent reductions (as a percent) |
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7.00%
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| Total debt, net of unamortized debt issuance costs |
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$ 410,422,000
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$ 410,422,000
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$ 402,123,000
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| Revolving credit facility |
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13,000,000
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13,000,000
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3,000,000
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| Unamortized Debt Issuance Expense |
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5,854,000
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5,854,000
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9,576,000
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| Seventh Amendment Purchasers |
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| DEBT |
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| Stock issued in exchange of warrants exercised (in shares) | shares |
3,946,250
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| Seventh Amendment Structuring Agent |
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| DEBT |
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| Stock issued in exchange of warrants exercised (in shares) | shares |
200,000
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| Maximum | Secured Overnight Financing Rate (SOFR) |
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| DEBT |
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| Debt instrument, adjustment rate |
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0.0042826
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| Minimum | Secured Overnight Financing Rate (SOFR) |
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| DEBT |
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| Variable interest rate (as a percent) |
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1.00%
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1.00%
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| Credit Agreement |
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| DEBT |
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| Maximum amount of line of credit |
$ 22,550,000
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| Basis points adjustments (as percentage) |
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0.50%
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0.50%
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| Debt instrument, financial statement threshold | day |
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30
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| Debt instrument, financial statement threshold to provide cash flow forecast | day |
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10
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| Debt Instrument, Covenant, Budgeted Period | wk |
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13
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| Debt instrument, financial statement threshold to meet under the amended credit agreement |
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6 months
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| Debt Instrument, Covenant, Cap On Funds Reinvestment |
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$ 5,000,000
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$ 5,000,000
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| Debt Instrument, Covenant, Charges Or Expenses Addback Limit |
$ 32,000,000
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| Credit Agreement | Line Of Credit Facility, Initial Leverage Ratio |
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| DEBT |
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| Threshold secured leverage ratio |
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4.25
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| Credit Agreement | Line Of Credit Facility, Leverage Ratio To Be Maintained Beginning Quarter Ending September 30, 2023 |
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| DEBT |
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| Threshold secured leverage ratio |
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3.75
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| Credit Agreement | Line Of Credit Facility, Leverage Ratio To Be Maintained Beginning Quarter Ending March 31, 2025 |
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| DEBT |
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| Threshold secured leverage ratio |
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3.00
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| Credit Agreement | Line Of Credit Facility, Minimum Fixed Charge Coverage Ratio To Be Maintained During First Anniversary |
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| DEBT |
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| Threshold secured leverage ratio |
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1.00
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| Credit Agreement | Line Of Credit Facility, Minimum Fixed Charge Coverage Ratio To Be Maintained From And After First Anniversary |
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| DEBT |
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| Threshold secured leverage ratio |
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1.10
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| Credit Agreement | Debt Instrument, Covenant, Weekly Liquidity, Period One |
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| DEBT |
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| Minimum liquidity covenant |
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$ 7,000,000
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| Credit Agreement | Debt Instrument, Covenant, Weekly Liquidity, Period Two |
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| DEBT |
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| Minimum liquidity covenant |
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17,500,000
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| Credit Agreement | Debt Instrument, Covenant, Weekly Liquidity, Period Three |
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| DEBT |
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| Minimum liquidity covenant |
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$ 30,000,000
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$ 10,000,000
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| Credit Agreement | Base Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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1.00%
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1.00%
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| Credit Agreement | London Interbank Offered Rate (LIBOR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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6.25%
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| Credit Agreement | Prime Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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5.25%
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| Credit Agreement | Maximum | Base Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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8.50%
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5.50%
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| Credit Agreement | Maximum | Secured Overnight Financing Rate (SOFR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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9.50%
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6.50%
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| Variable interest rate (as a percent) |
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0.42826%
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| Credit Agreement | Maximum | Prime Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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5.50%
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| Credit Agreement | Minimum |
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| DEBT |
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| Variable interest rate (as a percent) |
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1.00%
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| Credit Agreement | Minimum | Base Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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5.75%
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5.00%
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| Variable interest rate (as a percent) |
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2.00%
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2.00%
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| Credit Agreement | Minimum | Secured Overnight Financing Rate (SOFR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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6.75%
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6.00%
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| Variable interest rate (as a percent) |
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0.11448%
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| Debt instrument, adjustment rate |
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0.0011448
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| Credit Agreement | Minimum | Prime Rate |
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| DEBT |
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| Basis points adjustments (as percentage) |
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5.00%
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| Term Loan |
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| DEBT |
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| Maximum amount of line of credit |
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$ 40,000,000
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$ 165,000,000
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$ 35,000,000
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| Maximum term for drawing loan facility |
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24 months
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| Volunteer principal prepayments (as percentage) |
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0.0100
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| Effective rate (as percentage) |
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11.66%
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11.52%
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11.62%
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11.62%
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| Term Loan | London Interbank Offered Rate (LIBOR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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6.25%
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| Term Loan | Maximum | London Interbank Offered Rate (LIBOR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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6.50%
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| Term Loan | Minimum | London Interbank Offered Rate (LIBOR) |
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| DEBT |
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| Basis points adjustments (as percentage) |
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6.00%
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| Delayed Draw Term Loan |
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| DEBT |
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| Maximum amount of line of credit |
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$ 35,000,000
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| Maximum term for drawing loan facility |
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|
|
|
|
|
18 months
|
|
|
|
|
|
|
|
|
|
|
| Commitment fee (as percentage) |
|
|
|
|
|
|
|
|
1.00%
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Delayed Draw Term Loan |
|
|
|
|
|
|
$ 35,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effective rate (as percentage) |
|
|
|
|
|
|
|
|
|
|
11.65%
|
11.51%
|
11.61%
|
11.60%
|
|
|
|
|
|
| Delayed Draw Term Loan | London Interbank Offered Rate (LIBOR) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis points adjustments (as percentage) |
|
|
|
|
|
|
6.25%
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delayed Draw Term Loan | Maximum |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis points adjustments (as percentage) |
|
|
|
|
|
|
|
|
6.50%
|
|
|
|
|
|
|
|
|
|
|
| Delayed Draw Term Loan | Maximum | London Interbank Offered Rate (LIBOR) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis points adjustments (as percentage) |
|
|
|
|
|
|
6.50%
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delayed Draw Term Loan | Minimum |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis points adjustments (as percentage) |
|
|
|
|
|
|
|
|
6.00%
|
|
|
|
|
|
|
|
|
|
|
| Delayed Draw Term Loan | Minimum | London Interbank Offered Rate (LIBOR) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basis points adjustments (as percentage) |
|
|
|
|
|
|
6.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
| Credit Facility Term Loan and Delayed Draw Term Loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Annual principal payments (as percentage) |
|
|
|
|
|
|
|
|
1.00%
|
|
|
|
|
|
|
|
|
|
|
| Revolving Credit Facility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maximum amount of line of credit |
|
|
|
|
|
|
|
|
|
|
$ 15,000,000
|
|
$ 15,000,000
|
|
|
|
|
|
|
| Commitment fee (as percentage) |
|
|
|
|
|
|
|
|
0.50%
|
|
|
|
|
|
|
|
|
|
|
| Charges and costs allowed to be added back to the Company's consolidated EBITDA |
|
$ 28,500,000
|
$ 26,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commitment fee payable to consenting lender party (percent) |
|
$ 0.0050
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revolving credit facility |
|
|
|
|
|
|
|
|
|
|
$ 13,000,000
|
$ 3,000,000
|
$ 13,000,000
|
$ 3,000,000
|
|
|
|
|
|
| Additional Term Loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Annual principal payments (as percentage) |
|
|
|
|
|
1.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effective rate (as percentage) |
|
|
|
|
|
|
|
|
|
|
11.69%
|
11.63%
|
11.65%
|
11.73%
|
|
|
|
|
|
| Seller Payable - Orient BioResource Center | Unsecured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Principal amount |
|
|
|
|
|
$ 3,700,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Rate (as a percent) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.60%
|
|
| Fair value of debt |
|
|
|
|
|
$ 3,325,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Period for payment of consideration |
|
|
|
|
|
18 months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Principal amount |
|
|
|
|
|
|
|
|
|
$ 140,000,000
|
|
|
|
|
|
|
|
|
|
| Interest Rate (as a percent) |
|
|
|
|
|
|
|
|
|
3.25%
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
|
|
|
|
|
|
|
|
$ 3,029,000
|
$ 2,859,000
|
$ 6,082,000
|
$ 5,741,000
|
|
|
|
|
|
| Amortization of debt discount and issuance costs |
|
|
|
|
|
|
|
|
|
|
$ 243,000
|
$ 230,000
|
489,000
|
461,000
|
|
|
|
|
|
| Effective rate (as percentage) |
|
|
|
|
|
|
|
|
|
|
9.38%
|
9.38%
|
|
|
|
|
|
|
|
| Settlement period |
|
|
|
|
|
|
|
|
|
13 days
|
|
|
|
|
|
|
|
|
|
| Additional principal amount |
|
|
|
|
|
|
|
|
|
$ 15,000,000
|
|
|
|
|
|
|
|
|
|
| Initial conversion rate |
|
|
|
|
|
|
|
21.7162
|
|
|
|
|
|
|
|
|
|
|
|
| Initial conversion price (in dollars per share) | $ / shares |
|
|
|
|
|
|
|
|
|
$ 46.05
|
|
|
|
|
|
|
|
|
|
| Unamortized debt issuance costs |
|
|
|
|
|
|
|
|
|
|
$ 1,604,000
|
|
1,604,000
|
|
|
2,093,000
|
|
|
|
| Coupon interest expense |
|
|
|
|
|
|
|
|
|
|
1,056,000
|
$ 1,056,000
|
2,135,000
|
2,135,000
|
|
|
|
|
|
| Accretion expense |
|
|
|
|
|
|
|
|
|
|
1,730,000
|
1,573,000
|
3,458,000
|
3,145,000
|
|
|
|
|
|
| Number of scheduled trading days | day |
|
|
|
|
|
|
|
40
|
|
|
|
|
|
|
|
|
|
|
|
| Conversion price |
|
|
|
|
|
|
|
130.00%
|
|
|
|
|
|
|
|
|
|
|
|
| Number of trading days | day |
|
|
|
|
|
|
|
20
|
|
|
|
|
|
|
|
|
|
|
|
| Number of consecutive trading days | day |
|
|
|
|
|
|
|
30
|
|
|
|
|
|
|
|
|
|
|
|
| Cure period |
|
|
|
|
|
|
|
30 days
|
|
|
|
|
|
|
|
|
|
|
|
| Cure or waiver period |
|
|
|
|
|
|
|
60 days
|
|
|
|
|
|
|
|
|
|
|
|
| Guarantor or subsidiaries for the payment |
|
|
|
|
|
|
|
|
|
$ 20,000,000
|
|
|
|
|
|
|
|
|
|
| Period for discharge or stay |
|
|
|
|
|
|
|
60 days
|
|
|
|
|
|
|
|
|
|
|
|
| Percentage of noteholders |
|
|
|
|
|
|
|
|
|
25.00%
|
|
|
|
|
|
|
|
|
|
| Right to receive special interest maximum term |
|
|
|
|
|
|
|
180 days
|
|
|
|
|
|
|
|
|
|
|
|
| Right to receive special interest maximum rate |
|
|
|
|
|
|
|
0.50%
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expense |
|
|
|
|
|
|
|
|
|
|
981,000
|
981,000
|
1,983,000
|
1,989,000
|
|
|
|
|
|
| Amortization of debt discount and issuance costs |
|
|
|
|
|
|
|
|
|
|
229,000
|
159,000
|
458,000
|
316,000
|
|
|
|
|
|
| Unamortized Debt Issuance Expense |
|
|
|
|
|
|
|
|
|
|
840,000
|
|
840,000
|
|
|
$ 1,297,000
|
|
|
|
| Interest and Debt Expense |
|
|
|
|
|
|
|
|
|
|
1,724,000
|
1,521,000
|
3,443,000
|
3,046,000
|
|
|
|
|
|
| Accretion Expense |
|
|
|
|
|
|
|
|
|
|
$ 514,000
|
$ 381,000
|
$ 1,002,000
|
$ 741,000
|
|
|
|
|
|
| Convertible Senior Notes | Convertible Debt | Seventh Amendment Purchasers |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Repurchased Face Amount |
|
|
|
|
|
|
|
|
|
$ 8,333,000
|
|
|
|
|
|
|
|
|
|
| Total debt, net of unamortized debt issuance costs |
|
|
|
|
|
|
|
|
|
$ 131,667
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Rate (as a percent) |
|
|
|
|
|
|
|
|
|
|
15.00%
|
|
15.00%
|
|
|
|
|
|
|
| Cure period |
30 days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Covenant, Aggregate Holders Of Debt, Percent |
|
|
|
|
|
|
|
|
|
|
30.00%
|
|
30.00%
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Redemption, Period One |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Redemption Price, Percentage |
100.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Redemption, Period Two |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Redemption Price, Percentage |
102.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Redemption, Period Three |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Redemption Price, Percentage |
100.00%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Seventh Amendment Purchasers |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds from Issuance of Debt |
$ 17,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Seventh Amendment Purchasers | Fair Value, Nonrecurring |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Repurchased Face Amount |
22,000,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Seventh Amendment Structuring Agent |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Principal amount |
550,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Covenant Period, Amendment Relief Period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Covenant, Default Amount |
8,625,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Covenant Period, After Amendment Relief Period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Covenant, Default Amount |
$ 17,250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Waiver Period After Acquisition Closing |
90 days
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Secured Second Lien PIK Notes Due 2027 | Secured Debt | Debt Instrument, Covenant, 2024 Settlement |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| DEBT |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debt Instrument, Covenant, Default Amount |
$ 11,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|