The maturities of the Company’s operating and finance lease liabilities as of December 31, 2022 were as follows: (in Thousands) Operating Leases Finance Leases 2023 .................................. $ 2,382 $ 5,453 2024 .................................. 2,443 5,290 2025 .................................. 2,470 5,290 2026 .................................. 2,291 5,290 2027 .................................. 2,176 5,290 Thereafter .............................. 2,985 9,107 Total future lease payments . . . . . . . . . . . . . . . . 14,747 35,720 Less:Interest ............................ (3,262) (8,312) Present value of lease obligations . . . . . . . . . . . . $11,485 $27,408 As of December 31, 2022, the weighted-average remaining term of our operating and finance leases were 6.1 years and 6.3 years, respectively. NOTE 8. DEBT Long-term debt consisted of the following as of December 31, 2022 and 2021: December 31, Maturity Date Interest Rate 2022 2021 PMCRevolver................. November 2025 Prime rate plus 4.25% $55,181 $14,227 PMCCapexline ............... November 2025 Prime rate plus 8.5% 4,670 3,602 PMC Lease line of Credit . . . . . . . . November 2025 Prime rate plus 8.5% — 7,258 PMC Term Loan $10.0 MM . . . . . . August 2028 Prime rate plus 7.85% 10,000 — 69,851 25,087 Less: Current maturities of longtermdebt ................... 370 328 Long-termdebt ................ $69,481 $24,759 PMC Credit Facility On June 30, 2016, the Company entered into a loan and security agreement (the “Credit Facility”) with PMC Financial Services Group, LLC (“PMC”). As of December 31, 2022, the Credit Facility, as amended, provided the Company with a $75.0 million line of credit repayable on November 30, 2025 (the “Revolver”), and permits the Company to make repayments without penalty. As amended, the Credit Facility also provides a revolving capital expenditure line for up to $4.0 million (exclusive of the fixed portion discussed below) which matures on November 30, 2025 (the “CapEx Line”). The Credit Facility was further amended to allow for additional borrowings of up to $7.5 million for certain lease agreements (“Lease Line of Credit”). Outstanding balances under the Revolver shall bear interest at an annual rate equal to the prime rate announced by Wells Fargo Bank, N.A. plus 4.25% per annum. Outstanding balances under the CapEx Line and Lease Line of Credit shall bear interest at an annual rate equal to the prime rate announced by Wells Fargo Bank, N.A., plus 8.50% per annum. Additionally, during 2022, the agreement, as amended provided for a term loan of $10.0 million, which bears interest at an annual rate equal to the prime rate (as announced by Wells Fargo Bank, N.A.) plus 7.85%, with a floor of 13.35% (should the prime rate decrease to a specified level), per annum. Per the agreement, monthly interest payments began on September 30, 2022, and shall continue to September 30, 2023 when both interest and principal shall be repaid monthly in 60 equal installments. 68
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