• Filing Date: 2020-06-24
  • Form Type: 10-K
  • Description: Annual report
v3.20.1
DEBT - Narrative (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2020
USD ($)
Nov. 18, 2019
shares
Dec. 27, 2018
USD ($)
$ / shares
shares
Aug. 01, 2018
USD ($)
$ / shares
shares
Feb. 01, 2018
USD ($)
day
$ / shares
shares
Dec. 31, 2018
USD ($)
Feb. 28, 2018
USD ($)
Jun. 30, 2019
Mar. 31, 2020
USD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Feb. 01, 2019
$ / shares
Dec. 28, 2018
USD ($)
Nov. 30, 2018
$ / shares
shares
Oct. 31, 2018
$ / shares
shares
Sep. 30, 2018
$ / shares
shares
Debt Instrument [Line Items]                                
Loss on debt extinguishment, net         $ 800,000       $ 0 $ (17,458,000) $ (6,934,000)          
Debt discount         100,000                      
Debt extinguishment fees         700,000                      
Line of credit facility, maximum borrowing amount     $ 45,000,000.0                          
Warrants issued during the period (in shares) | shares   3,800,000                            
Debt issuance fees         $ 1,400,000                      
Aggregate principal amount                         $ 150,000,000      
Interest payments made in kind                 $ 1,858,000 0 0          
Federal funds rate                                
Debt Instrument [Line Items]                                
Interest rate     0.50%                          
One month LIBOR                                
Debt Instrument [Line Items]                                
Interest rate     1.00%                          
Base rate                                
Debt Instrument [Line Items]                                
Interest rate     3.00%                          
LIBOR rate plus senior net leverage ratio                                
Debt Instrument [Line Items]                                
Interest rate     10.00%                          
Prime rate quoted by the Wall Street Journal                                
Debt Instrument [Line Items]                                
Interest rate     9.00%                          
PNC credit facility                                
Debt Instrument [Line Items]                                
Interest rate during period                 6.25%              
Restricted cash reserve $ 5,000,000               $ 5,000,000              
Notes payable to banks | Federal funds rate                                
Debt Instrument [Line Items]                                
Interest rate                 0.50%              
Notes payable to banks | One month LIBOR                                
Debt Instrument [Line Items]                                
Interest rate                 1.00%              
Notes payable to banks | Base rate                                
Debt Instrument [Line Items]                                
Interest rate                 3.00%              
Senior secured term loan                                
Debt Instrument [Line Items]                                
Interest rate               5.00%                
Proceeds of senior secured term loan     $ 15,000,000                          
Percentage of principal payments of the senior secured term loan     0.25%                          
Senior secured term loan | Minimum                                
Debt Instrument [Line Items]                                
Interest rate               3.50%                
Senior secured term loan | Maximum                                
Debt Instrument [Line Items]                                
Interest rate               4.50%                
Senior secured term loan | PNC credit facility                                
Debt Instrument [Line Items]                                
Interest rate               4.50%                
Senior secured term loan | PNC credit facility | Minimum                                
Debt Instrument [Line Items]                                
Interest rate               4.50%                
Senior secured term loan | PNC credit facility | Maximum                                
Debt Instrument [Line Items]                                
Interest rate               5.00%                
Senior secured term loan | PNC credit facility | Base rate                                
Debt Instrument [Line Items]                                
Interest rate               0.50%                
Senior secured term loan | PNC credit facility | LIBOR rate plus senior net leverage ratio                                
Debt Instrument [Line Items]                                
Interest rate               1.00%                
Senior secured term loan | Senior secured term loan and amended PNC credit facility                                
Debt Instrument [Line Items]                                
Warrants issued (in shares) | shares     7,110,616                          
Warrant exercise price (in dollars per share) | $ / shares     $ 1.33                          
Debt issuance fees     $ 18,300,000                          
Fair value of warrants classified within stockholders deficit     8,800,000                          
TWC term loan agreement | LIBOR rate plus senior net leverage ratio | Minimum                                
Debt Instrument [Line Items]                                
Interest rate                 7.00%              
TWC term loan agreement | LIBOR rate plus senior net leverage ratio | Maximum                                
Debt Instrument [Line Items]                                
Interest rate                 8.25%              
TWC term loan agreement | Prime rate quoted by the Wall Street Journal | Minimum                                
Debt Instrument [Line Items]                                
Interest rate                 6.00%              
TWC term loan agreement | Prime rate quoted by the Wall Street Journal | Maximum                                
Debt Instrument [Line Items]                                
Interest rate                 7.25%              
Revolving credit agreement | Federal funds rate                                
Debt Instrument [Line Items]                                
Interest rate                 0.50%              
Revolving credit agreement | One month LIBOR                                
Debt Instrument [Line Items]                                
Interest rate                 1.00%              
Revolving credit agreement | One month LIBOR margin | Minimum                                
Debt Instrument [Line Items]                                
Interest rate                 1.50%              
Revolving credit agreement | One month LIBOR margin | Maximum                                
Debt Instrument [Line Items]                                
Interest rate                 2.50%              
Senior secured term loan, ECF payment                                
Debt Instrument [Line Items]                                
Current debt payable 5,300,000               $ 5,300,000              
Senior secured term loan                                
Debt Instrument [Line Items]                                
Aggregate principal amount $ 165,208,000               $ 165,208,000 $ 164,588,000            
Prepayment percentage                 25.00%              
Percentage of principal to be repaid upon change in control of interest 1.00%               1.00%              
Prepayment penalty period                 30 months              
Deferred scheduled amortization payments $ 400,000                              
Interest payments made in kind 1,900,000                              
Interest rate during period                 12.00%              
Senior secured term loan | LIBOR                                
Debt Instrument [Line Items]                                
Interest rate                 10.00%              
Senior secured term loan | Principal Prepaid Amount                                
Debt Instrument [Line Items]                                
Interest rate                 5.00%              
December 2018 Credit Agreements                                
Debt Instrument [Line Items]                                
Prepayment percentage           100.00%                    
Debt default trigger amount           $ 1,000,000.0                    
Prepayment premium percentage                 12.00%              
Registration rights agreement | Senior secured term loan                                
Debt Instrument [Line Items]                                
Registration delay payments $ 300,000               $ 300,000              
Registration delay payments interest rate 5.00%               5.00%              
February 2018 amendment | TWC term loan agreement                                
Debt Instrument [Line Items]                                
Percentage of interest on debt in kind             2.00%                  
Decrease in restricted cash             $ 7,000,000                  
Warrants issued (in shares) | shares         150,000                      
Warrant exercise price (in dollars per share) | $ / shares         $ 0.01                      
Warrants exercised (in shares) | shares         75,000                      
Loss on debt extinguishment, net                     6,900,000          
Debt discount                     3,800,000          
Debt extinguishment fees                     3,100,000          
August 2018 amendment                                
Debt Instrument [Line Items]                                
Warrants issued (in shares) | shares       1,099,533                        
Warrant exercise price (in dollars per share) | $ / shares       $ 2.11               $ 1.62   $ 2.40 $ 2.39 $ 2.40
Percent of common stock to purchase       3.00%                        
Trading days | day         5                      
Fair value of warrants issued       $ 5,600,000                        
Amount borrowed       $ 6,700,000.0                        
Total warrants issued (in shares) | shares       4,398,132                        
Warrants called in period (in shares) | shares                           1,099,533 1,099,533 1,099,533
Loss from repurchase of warrants       $ 400,000                        
Repurchase right percentage       50.00%                        
Warrant repurchase price (in dollars per share) | $ / shares       $ 0.001                        
Warrants repurchased, value       $ 550                        
Warrants repurchased (in shares) | shares       549,766                        
August 2018 amendment | Additional incremental delayed term loan                                
Debt Instrument [Line Items]                                
Line of credit facility, maximum borrowing amount       $ 20,000,000                        
August 2018 amendment | PNC credit facility                                
Debt Instrument [Line Items]                                
Loss on debt extinguishment, net                     1,800,000          
Debt issuance fees                     1,700,000          
August 2018 amendment | TWC term loan agreement                                
Debt Instrument [Line Items]                                
Loss on debt extinguishment, net                     14,900,000          
Debt issuance fees                     5,700,000          
Non contingent warrants | February 2018 amendment | TWC term loan agreement                                
Debt Instrument [Line Items]                                
Warrants issued (in shares) | shares         75,000                      
Fair value of warrants issued         $ 300,000                      
Remaining contingent warrants | February 2018 amendment | TWC term loan agreement                                
Debt Instrument [Line Items]                                
Warrants issued (in shares) | shares         75,000                      
Fair value of warrants issued         $ 300,000                      
Warrant | February 2018 amendment | TWC term loan agreement                                
Debt Instrument [Line Items]                                
Fair value of warrants amended         $ 600,000                      
Debt extinguishment fees                     600,000          
Warrant | Operating expenses | August 2018 amendment                                
Debt Instrument [Line Items]                                
Loss from repurchase of warrants       $ 400,000                        
Other current assets | Interest expense | February 2018 amendment | PNC credit facility                                
Debt Instrument [Line Items]                                
Debt extinguishment fees                     $ 600,000          
Accounting Standards Update 2017-11 | Warrant | Senior secured term loan | Senior secured term loan and amended PNC credit facility                                
Debt Instrument [Line Items]                                
Fair value of warrants classified within stockholders deficit     $ 8,800,000                          
Common Stock                                
Debt Instrument [Line Items]                                
Warrants issued during the period (in shares) | shares   2,800,000                            
Covenant Period One | Senior secured term loan                                
Debt Instrument [Line Items]                                
Prepayment penalty percentage                 5.00%              
Covenant Period Two | Senior secured term loan                                
Debt Instrument [Line Items]                                
Prepayment penalty percentage                 2.00%