| Schedule of longterm debt |
|
|
|
|
|
|
|
|
|
Successor |
|
|
June 30, |
|
December 31, |
|
|
2021 |
|
2020 |
2Adams Street Term Loan |
|
$ |
30,845 |
|
$ |
31,000 |
Adams Street Revolving Credit Facility |
|
|
— |
|
|
— |
Adams Street Delayed Draw Term Loan |
|
|
14,925 |
|
|
— |
Adams Street Incremental Term Loan |
|
|
31,920 |
|
|
— |
SVB Loan Agreement |
|
|
41,626 |
|
|
46,500 |
DSS PPP Loan |
|
|
450 |
|
|
1,058 |
Total debt |
|
$ |
119,766 |
|
$ |
78,558 |
Less: unamortized discounts and issuance costs |
|
|
1,812 |
|
|
842 |
Total debt, net |
|
$ |
117,954 |
|
$ |
77,716 |
Less: current portion |
|
|
1,230 |
|
|
1,074 |
Long-term debt, net |
|
$ |
116,724 |
|
$ |
76,642 |
|
The Predecessor and the Successor debt balances are summarized as follows:
|
|
|
|
|
|
|
|
|
|
Successor |
|
|
Predecessor |
|
|
December 31, |
|
|
December 31, |
|
|
2020 |
|
|
2019 |
Crestmark Equipment Finance Agreement |
|
$ |
— |
|
|
$ |
283 |
Navitas Credit Corp. Equipment Finance Agreement |
|
|
— |
|
|
|
71 |
2017 Space Florida Loan |
|
|
— |
|
|
|
1,000 |
2018 Space Florida Loan |
|
|
— |
|
|
|
1,000 |
2019 Space Florida Loan |
|
|
— |
|
|
|
1,000 |
Adams Street Term Loan |
|
|
31,000 |
|
|
|
— |
Adams Street Revolving Credit Facility |
|
|
— |
|
|
|
— |
Adams Street Delayed Draw Term Loan |
|
|
— |
|
|
|
— |
SVB Loan Agreement |
|
|
46,500 |
|
|
|
— |
DSS PPP Loan |
|
|
1,058 |
|
|
|
— |
Total debt |
|
$ |
78,558 |
|
|
$ |
3,354 |
Less: unamortized discounts and issuance costs |
|
|
842 |
|
|
|
50 |
Total debt, net |
|
$ |
77,716 |
|
|
$ |
3,304 |
Less: current portion |
|
|
1,074 |
|
|
|
208 |
Long-term debt, net |
|
$ |
76,642 |
|
|
$ |
3,096 |
|
| Schedule of maturities of long term debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2022 |
|
2023 |
|
2024 |
|
2025 |
|
Thereafter |
|
Total |
Adams Street Term Loan |
|
$ |
155 |
|
$ |
310 |
|
$ |
310 |
|
$ |
310 |
|
$ |
310 |
|
$ |
29,450 |
|
$ |
30,845 |
Adams Street Incremental Term Loan |
|
|
160 |
|
|
320 |
|
|
320 |
|
|
320 |
|
|
320 |
|
|
30,480 |
|
|
31,920 |
Adams Street Delayed Draw Term Loan |
|
|
75 |
|
|
150 |
|
|
150 |
|
|
150 |
|
|
150 |
|
|
14,250 |
|
|
14,925 |
SVB Loan Agreement |
|
|
— |
|
|
41,626 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
41,626 |
DSS PPP Loan |
|
|
450 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
450 |
Total |
|
$ |
840 |
|
$ |
42,406 |
|
$ |
780 |
|
$ |
780 |
|
$ |
780 |
|
$ |
74,180 |
|
$ |
119,766 |
|
The maturities of the Company’s long-term debt outstanding as of December 31, 2020 (Successor) are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2021 |
|
2022 |
|
2023 |
|
2024 |
|
2025 |
|
Thereafter |
|
Total |
Adams Street Term Loan |
|
310 |
|
310 |
|
310 |
|
310 |
|
310 |
|
29,450 |
|
31,000 |
SVB Loan Agreement |
|
— |
|
46,500 |
|
— |
|
— |
|
— |
|
— |
|
46,500 |
DSS PPP Loan |
|
764 |
|
294 |
|
— |
|
— |
|
— |
|
— |
|
1,058 |
Total |
|
1,074 |
|
47,104 |
|
310 |
|
310 |
|
310 |
|
29,450 |
|
78,558 |
|