Is it ok to use cable with a distorted sheath?
You can massage it with your fingers to straighten it out, and make sure when you nail or clamp it that it is flat and not on edge.
As long as it is not cut or chafed or bent sharply it should be fine.
Although it suggests something happened at the factory or in storage, it is still correctly insulated.
To be certain you could call the manufacturer and ask them if there is a recall for that production.