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Debt Obligations (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt Obligations

Debt obligations consists of the following:

 

 

 

As of

 

 

As of

 

 

 

December 31,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

 

 

 

 

 

Revolver facility

 

$

90,700

 

 

$

80,900

 

Debt issuance costs

 

 

(1,848

)

 

 

(2,783

)

Revolver facility, net

 

$

88,852

 

 

$

78,117

 

Term Loan

 

$

201,875

 

 

$

212,500

 

Debt issuance costs

 

 

(883

)

 

 

(1,393

)

Term loan, net

 

$

200,992

 

 

$

211,107

 

Total debt obligations

 

$

289,844

 

 

$

289,224

 

 

 

 

 

The principal balance consists of the following tranches:

 

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Principal Amount

 

 

Base Rate

 

 

SOFR Rate

 

 

Rate Expiration Date

 

 

 

 

 

 

 

 

 

 

 

 

Term Loan

 

$

118,750

 

 

 

2.10

%

 

 

5.18

%

 

6/28/2024

Term Loan

 

 

83,125

 

 

 

2.10

%

 

 

5.45

%

 

4/18/2024

Revolver Facility

 

 

16,500

 

 

 

2.10

%

 

 

5.39

%

 

2/29/2024

Revolver Facility

 

 

10,500

 

 

 

2.10

%

 

 

5.36

%

 

1/29/2024

Revolver Facility

 

 

14,000

 

 

 

2.10

%

 

 

5.35

%

 

3/27/2024

Revolver Facility

 

 

6,000

 

 

 

2.10

%

 

 

5.41

%

 

1/23/2024

Revolver Facility

 

 

2,000

 

 

 

2.10

%

 

 

5.36

%

 

1/29/2024

Revolver Facility

 

 

12,000

 

 

 

2.10

%

 

 

5.39

%

 

3/14/2024

Revolver Facility

 

 

9,500

 

 

 

2.10

%

 

 

5.42

%

 

1/8/2024

Revolver Facility

 

 

3,500

 

 

 

2.10

%

 

 

5.39

%

 

1/30/2024

Revolver Facility

 

 

5,500

 

 

 

2.10

%

 

 

5.39

%

 

2/28/2024

Revolver Facility

 

 

3,500

 

 

 

2.10

%

 

 

5.34

%

 

1/4/2024

Revolver Facility

 

 

2,100

 

 

 

2.10

%

 

 

5.38

%

 

3/7/2024

Revolver Facility

 

 

4,600

 

 

 

2.10

%

 

 

5.37

%

 

3/11/2024

Revolver Facility

 

 

1,000

 

 

 

2.10

%

 

 

5.36

%

 

1/22/2024

Total

 

$

292,575

 

 

 

 

 

 

 

 

 

Schedule of Maturities of Long-term Debt

Future principal maturities of debt as of December 31, 2023 are as follows:

 

2024

 

$

10,625

 

2025

 

 

281,950

 

2026

 

 

-

 

Thereafter

 

 

-

 

 

$

292,575