Quarterly report pursuant to Section 13 or 15(d)

Notes Payable, Net (Tables)

v3.21.2
Notes Payable, Net (Tables)
9 Months Ended
Sep. 30, 2021
Notes Payable [Abstract]  
Schedule of the outstanding notes payable
A summary of the outstanding notes payable, net, is presented in the table below (in thousands):
 
Description
  
Maturity Date
 
  
Interest Rate
 
 
September 30, 2021
 
  
December 31, 2020
 
 
  
 
 
  
 
 
 
Successor
 
  
Predecessor
 
Senior Unsecured Notes
  
 
November 2025
  
 
 
7.9
%
 
$
350,000
    
$
350,000  
Financing Agreement
  
 
January 2021   
 
 
5.5%
 
 
 
—  
 
     9  
    
 
    
 
 
 
 
 
 
 
    
 
 
 
Total aggregate principle amount
 
 
 
350,000
       350,009  
Fair value adjustment, net of amortization
(1)
 
  
 
 
3,567
 
  
 
—  
Less: Debt issuance costs
 
 
 
—  
 
  
 
(13,436
 
 
 
 
  
 
 
 
Total notes payable, net
 
 
$
353,567
 
  
$
336,573
 
 
 
 
  
 
 
 
 
(1)
In conjunction with the Business Combination discussed in Note 4, the Company was required to adjust the liabilities assumed to fair value, resulting in a premium on the Notes and the elimination of the previously recognized debt issuance costs.