Subsequent Events

6 Months Ended

Jun. 30, 2023

Subsequent Events

Subsequent Events

18. SUBSEQUENT EVENTS

On July 26, 2023, the Company entered into a Credit Agreement (the “TLA Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, and certain lenders. The TLA Credit Agreement provides for a five-year senior secured term loan (the “TLA Term Loan”) in an aggregate principal amount of $185,000. The proceeds from the TLA Term Loan, together with the Company’s cash on hand, were used to repay the Initial Term Loan and to pay transaction fees and expenses in connection with the establishment of the TLA Credit Agreement. In addition, the Company paid a repayment premium of 2.00% of the principal amount of the Initial Term Loan outstanding at the time of repayment. Upon entry into the TLA Credit Agreement and repayment of the Initial Term Loan, all commitments under the Blackstone Credit Agreement were terminated.

On August 1, 2023, the Company’s Board of Directors approved a repurchase program providing for the repurchase of shares of common stock in an aggregate amount of up to $125,000, exclusive of commissions and transaction fees. The repurchase program may be modified at any time.