Debt (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Debt

A summary of debt as of March 31, 2026 and December 31, 2025 is as follows (in thousands):

	March 31, 2026		December 31, 2025
Revolving Credit Facility (1)	$	29,000	$	—
Senior Secured Term Loan Agreement due 2040,    with an interest rate of 5.24% (2)	9,440		9,600
Senior Secured Term Loan Agreement due 2037,    with an interest rate of 5.39% (3)	5,750		5,875
Unamortized loan fees	(61)		(63)
Total debt	44,129		15,412
Less current portion of long-term debt	1,131		1,131
Long-term debt due after one year, net	$	42,998	$	14,281

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(1)    The Revolving Credit Facility, a $60.0 million revolving credit facility between the Company and American AgCredit, as agent for the lenders thereunder, is comprised of a revolving loan facility (the “Revolving Loan”) and a term revolving loan facility (the “Term Revolving Loan”), which together are secured by substantially all of Crimson’s assets. The Revolving Loan provides up to $10.0 million of availability in the aggregate for a five year term, and the Term Revolving Loan provides up to $50.0 million in the aggregate for a fifteen year term. In addition to unused line fees ranging from 0.125% to 0.225%, rates for the borrowings are priced based on a performance grid tied to certain financial ratios and the Term Secured Overnight Financing Rate. In connection with the asset acquisition on February 9, 2026 as described in Note 2, “Acquisition of Raeburn Assets”, the Company borrowed an aggregate of $29.0 million under the Revolving Credit Facility. As a result of such borrowings, the remaining available borrowing capacity under the Revolving Credit Facility was $31.0 million as of March 31, 2026. The termination date of the Revolving Credit Facility is May 31, 2028.

(2)    Pine Ridge Winery, LLC, a wholly-owned subsidiary of Crimson, is party to a senior secured term loan agreement due on October 1, 2040 (the “2015 Term Loan”). Principal and interest are payable in quarterly installments.

(3)    Double Canyon Vineyards, LLC, a wholly-owned subsidiary of Crimson, is party to a senior secured term loan agreement due on July 1, 2037 (the “2017 Term Loan”). Principal and interest are payable in quarterly installments.

Schedule of Maturities of Long-term Debt

A summary of debt maturities as of March 31, 2026 is as follows (in thousands):

Principal due the remainder of 2026	$	855
Principal due in 2027	1,140
Principal due in 2028 (4)	30,140
Principal due in 2029	1,140
Principal due in 2030	1,140
Principal due thereafter	9,775
Total	$	44,190

(4)    Principal amounts due in 2028 include the maturity on May 31, 2028 of the $29.0 million borrowings under the Revolving Credit Facility.