| Schedule of Debt |
Debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities |
|
Effective Interest Rates |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Notes Payable |
|
2031 |
|
8.0% |
|
$ |
777 |
|
|
$ |
836 |
|
2025 Term Loan |
|
2032 |
|
5.9% |
|
|
1,732,883 |
|
|
|
2,636,755 |
|
2025 DDTL |
|
2032 |
|
6.4% |
|
|
— |
|
|
|
23,880 |
|
Total debt |
|
|
|
|
|
|
1,733,660 |
|
|
|
2,661,471 |
|
Less: Unamortized deferred financing costs |
|
|
|
|
|
|
(15,523 |
) |
|
|
(28,159 |
) |
Less: Current maturities |
|
|
|
|
|
|
(119 |
) |
|
|
(26,853 |
) |
Total debt, noncurrent |
|
|
|
|
|
$ |
1,718,018 |
|
|
$ |
2,606,459 |
|
|
Debt consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maturities |
|
|
Effective
Interest
Rates |
|
|
December 31,
2025 |
|
|
December 31,
2024 |
|
Term Loan 1.0 |
|
|
2027 |
|
|
|
10.5 |
% |
|
$ |
— |
|
|
$ |
475,521 |
|
Term Loan 2.0 |
|
|
2026 |
|
|
|
10.4 |
% |
|
|
— |
|
|
|
373,780 |
|
Revolver 2.0 |
|
|
2026 |
|
|
|
10.4 |
% |
|
|
— |
|
|
|
16,000 |
|
Delayed Draw Term Loan 2.0 |
|
|
2026 |
|
|
|
10.4 |
% |
|
|
— |
|
|
|
172,179 |
|
Term Loan 3.0 |
|
|
2029 |
|
|
|
11.5 |
% |
|
|
— |
|
|
|
629,641 |
|
Revolver 3.0 |
|
|
2028 |
|
|
|
11.5 |
% |
|
|
— |
|
|
|
19,380 |
|
Delayed Draw Term Loan 3.0 |
|
|
2029 |
|
|
|
11.5 |
% |
|
|
— |
|
|
|
6,544 |
|
Term Loan 4.0 |
|
|
2031 |
|
|
|
8.1 |
% |
|
|
— |
|
|
|
812,963 |
|
Convertible Promissory Note |
|
|
2026 |
|
|
|
10.0 |
% |
|
|
— |
|
|
|
49,623 |
|
Notes Payable |
|
|
2031 |
|
|
|
8.0 |
% |
|
|
836 |
|
|
|
946 |
|
2025 Term Loan |
|
|
2032 |
|
|
|
6.7 |
% |
|
|
2,636,755 |
|
|
|
— |
|
2025 DDTL |
|
|
2032 |
|
|
|
6.4 |
% |
|
|
23,880 |
|
|
|
— |
|
Total debt |
|
|
|
|
|
|
|
|
2,661,471 |
|
|
|
2,556,577 |
|
Less: Unamortized deferred financing costs |
|
|
|
|
|
|
|
|
(28,159 |
) |
|
|
(16,260 |
) |
Less: Current maturities |
|
|
|
|
|
|
|
|
(26,853 |
) |
|
|
(25,559 |
) |
Total Debt, noncurrent |
|
|
|
|
|
|
|
$ |
2,606,459 |
|
|
$ |
2,514,758 |
|
|
| Schedule of Future Payments of Contractual Annual Amounts Due on Outstanding Debt |
|
The following table of future payments reflects the contractual annual amounts due on all outstanding debt:
|
|
|
|
|
Year Ending December 31, |
|
Amount |
|
2026 |
|
$ |
26,853 |
|
2027 |
|
|
26,869 |
|
2028 |
|
|
26,880 |
|
2029 |
|
|
26,891 |
|
2030 |
|
|
26,904 |
|
Thereafter |
|
|
2,527,074 |
|
Total expected future payments |
|
$ |
2,661,471 |
|
|