v3.25.3
Debt and Other Financing Arrangements (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Summary of Long-Term Obligations

A summary of the Company’s long-term obligations as of September 30, 2025 and December 31, 2024 are as follows:

 

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

 

Principal

 

 

Carrying Value

 

 

Effective Interest Rate

 

 

Principal

 

 

Carrying Value

 

 

Effective Interest Rate

 

 

Senior Secured Credit Facilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revolving Credit Facility

 

$

42,473

 

 

$

42,473

 

 

 

12.7

%

 

$

—

 

 

$

—

 

 

 

—

 

 

Term Loan Facility (1)

 

 

543,113

 

 

 

517,251

 

 

 

11.6

%

 

 

518,700

 

 

 

488,298

 

 

 

11.1

%

 

Delayed Draw Term Loan Facility (2)

 

 

75,600

 

 

 

71,235

 

 

 

12.6

%

 

 

—

 

 

 

—

 

 

 

—

 

 

Other debt:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance leases

 

 

995

 

 

 

995

 

 

 

8.2

%

 

 

1,090

 

 

 

1,090

 

 

 

5.6

%

 

 

 

 

 

 

 

631,954

 

 

 

 

 

 

 

 

 

489,388

 

 

 

 

 

Less: Current portion of long-term debt

 

 

 

 

 

(631,430

)

 

 

 

 

 

 

 

 

(7,939

)

 

 

 

 

Long-term debt

 

 

 

 

$

524

 

 

 

 

 

 

 

 

$

481,449

 

 

 

 

 
(1)
The Term Loan Facility includes paid-in-kind interest of $27.9 million as of September 30, 2025.
(2)
The Delayed Draw Term Loan Facility principal includes an upfront one-time 3.0% fee that was paid-in-kind as of September 30, 2025. Additionally, a 5.0% exit fee is included in the principal amount, which becomes payable on the maturity date.
Schedule of Debt Maturities

Debt maturities as of September 30, 2025, which are due in the next five years are as follows:

 

Debt Maturities

 

Amount

 

Three remaining months of 2025

 

$

661,657

 

2026

 

 

205

 

2027

 

 

307

 

2028

 

 

12

 

Total debt liabilities

 

$

662,181