Quarterly report [Sections 13 or 15(d)]

Debt (Tables)

v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The table below presents details of the Company’s debt as of the following periods and the effective interest rate as of September 30, 2025:
  Effective interest rate September 30, 2025 December 31, 2024
Adams Street Term Loan
 11.16  % $ 29,979  $ 30,212 
Adams Street Delayed Draw Term Loan
 11.15  14,506  14,619 
Adams Street Incremental Term Loan
 10.98  31,028  31,268 
Adams Street Revolving Credit Facility
 13.78  30,000  50,000 
JPMorgan Term Loan
 13.53  88,875  — 
D&O Financing Loans 3.43  994  486 
Total debt
 195,382  126,585 
Less: unamortized discounts and issuance costs
 4,409  855 
Total debt, net
 190,973  125,730 
Less: Short-term debt, including current portion of long-term debt
 6,274  1,266 
Total long-term debt, net
 $ 184,699  $ 124,464 
As of September 30, 2025, the outstanding principal under the Adams Street Credit Agreement incurs cash interest in accordance with the base rate plus the applicable rates as set forth in the table below:

 
Term SOFR Rate
 Base Rate
Term loans
 6.00  % 5.00  %
Revolving credit facility:
Aggregate principal of $5.0 million or less
6.00  5.00 
Aggregate principal in excess of $5.0 million
 7.50  6.50