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Note 17 - Subsequent Events
2026 Credit Agreement Subsequent to July 31, 2026 and prior to the issuance of these financial statements, the Company entered into the 2026 Credit Agreement with JPMorgan, replacing its Existing Credit Agreement. The 2026 Credit Agreement provides for a secured credit facility consisting of a $75.0 million revolving credit facility, including up to $30.0 million of letters of credit and $5.0 million of swingline loans, and a $14.0 million term loan facility, and matures in August 2031. Borrowings bear interest at variable rates based on SOFR, EURIBOR, CORRA or an alternate base rate, plus an applicable margin based on the Company's leverage ratio. The facility is subject to a commitment fee on unused amounts, as well as customary covenants and events of default. Obligations are guaranteed by certain subsidiaries and secured by liens on specified collateral, subject to customary exceptions and limitations. See Note 10 - Debt for additional information.
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