Line of Credit

3 Months Ended

Dec. 31, 2021

Line of Credit

Line of Credit Facility [Line Items]

Line of Credit

7. Line of Credit

The Company maintained a revolving line of credit under a credit agreement with Wells Fargo Bank, N.A. and JPMorgan Chase Bank, N.A. that provided for a revolving credit facility of up to $75.0 million, subject to borrowing base availability, as defined in the credit agreement.

There were no amounts outstanding under the line of credit as of December 31, 2021 and September 30, 2021. The Company records commitment fees and other costs directly associated with obtaining the line of credit facility as deferred financing costs which are amortized over the term of the related financing arrangement. Deferred financing costs were $0.1 million for the period ended December 31, 2021 and September 30, 2021, respectively. The line of credit

contains certain customary representations and warranties, a financial covenant and affirmative and negative covenants as well as events of default. The Company was in compliance with the line of credit covenants as of December 31, 2021.

As of February 1, 2022, subsequent to the close of our first fiscal quarter of 2022, the Company terminated the revolving credit facility.