|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands) |
April 1, 2024 |
|
January 1, 2024 |
| Term loan |
$ |
51,253 |
|
|
$ |
51,253 |
|
| Related party note payable |
15,100 |
|
|
15,100 |
|
| Revolving line of credit |
2,000 |
|
|
2,000 |
|
| Other notes payable |
680 |
|
|
701 |
|
| Finance lease liability |
2,192 |
|
|
1,576 |
|
| Total Debt |
$ |
71,225
|
|
|
$ |
70,630
|
|
| Less: Unamortized debt discount related party note |
(574) |
|
|
(612) |
|
| Less: Unamortized debt issuance costs |
(838) |
|
|
(978) |
|
| Total Debt, net |
69,813
|
|
|
69,040
|
|
| Less: Short-term borrowing, including finance leases |
(53,064) |
|
|
(52,834) |
|
| Total Long-term borrowings, including finance leases and related party note payable |
$ |
16,749
|
|
|
$ |
16,206
|
|
The Credit Agreement, including the term loan and revolving line of credit, is secured by substantially all of the Company’s assets and incurs interest on outstanding amounts at the following rates per annum through maturity:
|
|
|
|
|
|
| Time Period |
Interest Rate |
| From January 1, 2024 through June 15, 2024 |
7.25% |
| From June 16, 2024 through maturity |
7.75% |
|
|
|
|
|
|
|