| Schedule of debt instrument |
As of June 30, 2025 and December 31, 2024, our debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
(In thousands) |
|
2025 |
|
|
2024 |
|
2044 Notes |
|
$ |
246,012 |
|
|
$ |
245,576 |
|
2029 Convertible Notes |
|
|
80,416 |
|
|
|
173,556 |
|
2025 Notes |
|
|
— |
|
|
|
170 |
|
2033 Senior Notes |
|
|
50 |
|
|
|
50 |
|
Chilean and Spanish lines of credit |
|
|
12,505 |
|
|
|
13,465 |
|
Current portion of notes payable |
|
|
1,519 |
|
|
|
1,384 |
|
Long term portion of notes payable |
|
|
2,773 |
|
|
|
3,002 |
|
Total |
|
$ |
343,275 |
|
|
$ |
437,203 |
|
|
|
|
|
|
|
|
Balance sheet captions |
|
|
|
|
|
|
Current portion of convertible notes |
|
$ |
— |
|
|
$ |
170 |
|
Long term portion of convertible notes |
|
|
80,466 |
|
|
|
173,606 |
|
Current portion of lines of credit and notes payable |
|
|
14,024 |
|
|
|
14,849 |
|
Long Term notes payable included in long-term liabilities |
|
|
248,785 |
|
|
|
248,578 |
|
Total |
|
$ |
343,275 |
|
|
$ |
437,203 |
|
At June 30, 2025 and December 31, 2024, we had notes payable and other debt (excluding the 2033 Senior Notes, the 2023 Convertible Notes, the 2025 Notes, and amounts outstanding under the lines of credit described above) as follows:
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
(In thousands) |
|
2025 |
|
|
2024 |
|
Current portion of notes payable |
|
$ |
1,519 |
|
|
$ |
1,384 |
|
Other long-term liabilities |
|
|
2,773 |
|
|
|
3,002 |
|
Total |
|
$ |
4,292 |
|
|
$ |
4,386 |
|
|
| Schedule of 2029 Convertible Notes |
The following table sets forth information related to the 2029 Convertible Notes which is included in our Condensed Consolidated Balance Sheet as of June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
2029
Convertible
Notes |
|
|
Discount |
|
|
Debt
Issuance
costs |
|
|
Total |
|
Balance at December 31, 2024 |
|
$ |
280,594 |
|
|
$ |
(100,879 |
) |
|
$ |
(6,159 |
) |
|
$ |
173,556 |
|
Amortization of debt discount and debt issuance costs |
|
|
— |
|
|
|
6,518 |
|
|
|
472 |
|
|
|
6,990 |
|
Repurchase |
|
|
(159,221 |
) |
|
|
54,701 |
|
|
|
4,390 |
|
|
|
(100,130 |
) |
Balance at June 30, 2025 |
|
$ |
121,373 |
|
|
$ |
(39,660 |
) |
|
$ |
(1,297 |
) |
|
$ |
80,416 |
|
|
| Schedule of Lines of Credit |
The following table summarizes the amounts outstanding under the Chilean and Spanish lines of credit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
|
|
|
|
|
|
Balance Outstanding |
|
|
|
Interest rate on
borrowings at |
|
|
Credit line |
|
|
June 30, |
|
|
December 31, |
|
Lender |
|
June 30, 2025 |
|
|
capacity |
|
|
2025 |
|
|
2024 |
|
Itau Bank |
|
|
5.50 |
% |
|
$ |
2,363 |
|
|
$ |
477 |
|
|
$ |
200 |
|
Bank of Chile |
|
|
6.60 |
% |
|
|
2,500 |
|
|
|
1,303 |
|
|
|
2,202 |
|
BICE Bank |
|
|
5.50 |
% |
|
|
2,500 |
|
|
|
1,481 |
|
|
|
2,418 |
|
Scotiabank |
|
|
5.00 |
% |
|
|
5,500 |
|
|
|
2,957 |
|
|
|
3,497 |
|
Santander Bank |
|
|
5.50 |
% |
|
|
5,000 |
|
|
|
2,216 |
|
|
|
1,926 |
|
Security Bank |
|
|
5.50 |
% |
|
|
1,400 |
|
|
|
— |
|
|
|
133 |
|
Estado Bank |
|
|
5.50 |
% |
|
|
4,000 |
|
|
|
1,464 |
|
|
|
1,154 |
|
BCI Bank |
|
|
5.00 |
% |
|
|
2,500 |
|
|
|
563 |
|
|
|
673 |
|
Internacional Bank |
|
|
5.50 |
% |
|
|
2,025 |
|
|
|
2,025 |
|
|
|
1,130 |
|
Consorcio Bank |
|
|
5.00 |
% |
|
|
2,000 |
|
|
|
19 |
|
|
|
133 |
|
Banco De Sabadell |
|
|
1.75 |
% |
|
|
587 |
|
|
|
— |
|
|
|
— |
|
Santander Bank |
|
|
5.36 |
% |
|
|
587 |
|
|
|
— |
|
|
|
— |
|
La Caixa Bank |
|
|
4.09 |
% |
|
|
587 |
|
|
|
— |
|
|
|
— |
|
Total |
|
|
|
|
$ |
31,549 |
|
|
$ |
12,505 |
|
|
$ |
13,466 |
|
|