The carrying values of the Company's outstanding debt obligations as of June 30, 2026, and December 31, 2025, were as follows:


(U.S. Dollars, in thousands)	June 30, 2026			December 31, 2025
	(Unaudited)
Outstanding Term Loans
Principal amount	$	225,000		$	160,000
Unamortized original debt discount		(2,447	)		(1,839	)
Unamortized debt issuance costs and lenders fees		(962	)		(770	)
Total indebtedness from outstanding term loans	$	221,591		$	157,391

Current portion of long-term debt	$	—		$	—
Long-term debt		221,591			157,391
Total indebtedness outstanding	$	221,591		$	157,391

On November 7, 2024, the Company, as borrower, and its U.S. subsidiaries entered into a $275.0 million secured credit agreement (the "Credit Agreement") with Oxford Finance LLC, as administrative agent and as collateral agent ("Oxford") and certain lenders party thereto, including Oxford, K2 HealthVentures LLC, and HSBC Ventures USA Inc. The Credit Agreement provides for a $160.0 million senior secured term loan (the "Initial Term Loan") and a $65.0 million senior secured delayed draw term loan facility (the "Term B Loan"). In addition, at Oxford's discretion, an additional $50.0 million of draw capacity is available through January 1, 2029 (the "Term C Loan" and, collectively with the Term B Loan and the Initial Term Loan, the "Credit Facilities").

On January 15, 2026, the Company borrowed $65.0 million via the Term B Loan to provide capital flexibility ahead of the expiration of the tranche. The Credit Facilities, to the extent ultimately drawn, will each mature in November 2029, following an interest-only payment period ending December 2028, and monthly amortization of principal and accrued interest between January 2029 and November 2029. The Credit Agreement contains financial covenants requiring the Company to maintain (i) a minimum level of liquidity at all times and (ii) a maximum total debt-to-EBITDA leverage ratio (measured on a quarterly basis) during the term of the facility. As of June 30, 2026, the Company was in compliance with all required financial covenants.

As of June 30, 2026, the Company had no borrowings on its available lines of credit in Italy, which provide up to an aggregate amount of €5.5 million ($6.3 million).