v3.26.1
Debt Obligations (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt Obligations
The Company’s debt obligations as of June 30, 2026 and December 31, 2025 were as follows: 
SuccessorPredecessor
June 30, 2026December 31, 2025
(in thousands)(in thousands)
2028 Notes (1)
$— $300,000 
Prepetition ABL Facility— 63,311 
Exit ABL Facility97,344 — 
Short-term debt (2)
1,606 6,310 
Total debt before deferred financing costs$98,950 $369,621 
Deferred financing costs— (21,739)
Total debt$98,950 $347,882 
Less: Current portion of long-term debt(1,606)(6,310)
Long-term debt$97,344 $341,572 
(1)Reclassified to Liabilities Subject to Compromise in the Company’s Condensed Consolidated Balance Sheet as of the Petition Date. On the Petition Date, the Company ceased making interest payments and accruing interest expense on the 2028 Notes.
(2)The weighted average interest rate of short-term debt outstanding was 7.2% at both June 30, 2026 and December 31, 2025.
Schedule of Fair Value of Debt Obligations
The estimated fair value of the Company’s debt obligations at June 30, 2026 and December 31, 2025 was as follows:
SuccessorPredecessor
June 30, 2026December 31, 2025
(in thousands)(in thousands)
2028 Notes$— $91,010 
Prepetition ABL Facility$— $63,311 
Exit ABL Facility$97,344 $— 
Short-term debt$1,606 $6,310