Quarterly report pursuant to Section 13 or 15(d)

Notes Payable, Net (Tables)

v3.22.1
Notes Payable, Net (Tables)
3 Months Ended
Mar. 31, 2022
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
 
March 31, 2022
 
  
December 31, 2021
 
Senior Unsecured Notes
   November 2025    7.9%  
$
350,000
 
   $ 350,000  
Fair value adjustment, net of amortization
(1)
      
 
3,196
 
     3,383  
        
 
 
    
 
 
 
Total notes payable, net
 
$
353,196
 
  
$
353,383
 
   
 
 
    
 
 
 

(1)
In conjunction with the Business Combination, 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.