Quarterly report pursuant to Section 13 or 15(d)

Debt

v3.23.2
Debt
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt
Note 8: Debt
Long-term debt consisted of the following:
  June 30, 2023 December 31, 2022
(in thousands)
Repurchase promissory note, interest paid at 11.0%, due June 2026
 $ 15,000  $ 15,000 
Term loan facility, interest paid at 12.0%, due December 2025
 65,000  65,000 
Unsecured promissory note, interest paid at 14.0%, due May 2026
 29,102  15,000 
Long-term debt, gross 109,102  95,000 
Less: unamortized debt issuance costs and original issue discount (914) (579)
108,188  94,421 
Less: current portion of long-term debt —  — 
Long-term debt, net $ 108,188  $ 94,421 
The Company was in compliance with its covenants under the term loan facility and the unsecured promissory note as of June 30, 2023; however, there can be no assurance that the Company will be able to maintain compliance with these covenants in the future or that the lenders under the term loan facility and the unsecured promissory note or the lenders of any future indebtedness the Company may incur will grant any such waiver or forbearance in the future.