14. Subsequent Event

On May 1, 2026, the Company entered into a credit agreement with JP Morgan Chase Bank, consisting of (i) a senior secured term loan in an aggregate principal amount of $175.0 million and (ii) a senior secured revolving credit facility with aggregate commitments of $125.0 million. The senior secured term loan and the revolving credit facility both bear interest at SOFR plus 275 basis points and mature on April 30, 2031. Both facilities are secured by substantially all assets of the Company. The credit agreement also provides for an incremental accordion feature that permits the Company to incur additional term loans or increase revolving commitments in an aggregate amount up to the greater of $150.0 million and 1.0x Adjusted EBITDA, subject to customary conditions. Proceeds from the term loan were used to repay in full the Company’s existing Braidwell Term Loan and Revolving Credit Agreement, as described in Note 7, “Debt,” which were terminated concurrently.