v3.25.1
Debt Obligations (Tables)
3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Debt Obligations

Debt obligations consists of the following:

 

 

 

As of

 

 

As of

 

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

Revolver facility

 

$

37,000

 

 

$

-

 

Debt issuance costs

 

 

(3,080

)

 

 

(3,308

)

Revolver facility, net

 

$

33,920

 

 

$

(3,308

)

 

 

 

 

 

 

 

Term Loan

 

$

325,000

 

 

$

325,000

 

Debt issuance costs

 

 

(1,769

)

 

 

(1,909

)

Term loan, net

 

$

323,231

 

 

$

323,091

 

Total debt obligations, net

 

$

357,151

 

 

$

319,783

 

The principal balance consists of the following tranches:

 

 

 

As of March 31, 2025

 

 

Principal Amount

 

 

Base Rate

 

 

SOFR Rate

 

 

Rate Expiration Date

 

 

 

 

 

 

 

 

 

 

 

 

Term Loan

 

$

325,000

 

 

 

2.60

%

 

 

4.29

%

 

5/5/2025

Revolver - Tranche 1

 

 

37,000

 

 

 

2.60

%

 

 

4.32

%

 

4/28/2025

Total

 

$

362,000

 

 

 

 

 

 

 

 

 

Schedule of Maturities of Long-term Debt

Future principal maturities of debt as of March 31, 2025 are as follows:

 

2025

 

$

4,063

 

2026

 

 

16,250

 

2027

 

 

16,250

 

2028

 

 

325,437

 

 

 

$

362,000