LONG-TERM DEBT |
9 Months Ended | |||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | ||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT | ||||||||||||||||||||||||||||||||||||
| LONG-TERM DEBT | 6. LONG-TERM DEBT The long-term debt as of December 31, 2024 and September 30, 2025 were as follows:
On September 11, 2025, Moatable US Holdco, Inc., Lofty and Trucker Path (collectively, the “Borrowers”), each a wholly owned subsidiary of the Company entered into a senior secured credit facility with PNC Bank, National Association for an aggregate amount of up to $9.75 million, under which the Borrowers drew the full amount under the line on September 18, 2025. The credit facility bears interest at the Daily Simple plus 1.50%, plus a credit spread adjustment of 0.1%, and matures on October 31, 2026. The credit facility is 100% cash collateralized, with an interest reserve equal to three months of interest payments. The proceeds were used to fund a portion of the Company’s share repurchase of Class A ordinary shares (including Class A ordinary shares represented by ADSs) in the Offer commenced in September 2025. The amount drawn under the credit facility may be repaid at any time without penalty and does not permit reborrowing once repaid. |
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