Long-Term Debt, Net |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long Term Debt |
The following table summarizes the Company’s debt (in thousands):
Small Business Association CARES Act Loans
In connection with its merger with Ryvyl Inc., effective May 12, 2026, the Company assumed a 30-year loan with a principal balance of $149,900 (plus deferred interest of 1,748) on the acquisition date and a 27-year loan with a principal balance of $471,640 on the acquisition date. Both loans were originally secured through the Small Business Association (“SBA”). The 30-year loan bears interest at 3.75% per annum and requires principal and interest payments of $731 per month. The monthly payments are first applied against any outstanding deferred interest. The 27-year loan bears interest at 3.75% per annum and requires principal and interest payments of $2,477 per month. As of June 30, 2026, both loans were in good standing. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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