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Debt Obligations (Tables)
12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Debt Obligations

Debt obligations consists of the following:

 

 

 

As of

 

 

As of

 

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Gross revolving credit facility state tax credits

 

$

 

 

$

-

 

Debt issuance costs

 

 

 

 

 

(8

)

Revolving credit facility state tax credits, net

 

$

 

 

$

(8

)

Revolver facility

 

$

80,900

 

 

$

90,900

 

Debt issuance costs

 

 

(2,783

)

 

 

(2,981

)

Revolver facility, net

 

$

78,117

 

 

$

87,919

 

Term loan

 

$

212,500

 

 

$

125,000

 

Debt issuance costs

 

 

(1,393

)

 

 

(415

)

Term loan, net

 

$

211,107

 

 

$

124,585

 

Total debt obligations

 

$

289,224

 

 

$

212,496

 

 

The table below summarizes terms of the debt obligations.

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

Maturity Date

 

Aggregate Facility Size

 

 

Outstanding Debt

 

 

Amount Available

 

 

Net Carrying Value

 

 

Average Interest Rate

 

Term Loan

 

12/22/2025

 

$

212,500

 

 

$

212,500

 

 

$

 

 

$

211,107

 

 

 

4.08

%

Revolver Facility

 

12/22/2025

 

 

162,500

 

 

 

80,900

 

 

 

81,600

 

 

 

78,117

 

 

 

4.14

%

Total

 

 

 

$

375,000

 

 

$

293,400

 

 

$

81,600

 

 

$

289,224

 

 

 

 

Schedule of Maturities of Long-term Debt

Future principal maturities of debt as of December 31, 2022 are as follows:

 

2023

 

$

10,625

 

2024

 

 

10,625

 

2025

 

 

272,150

 

 

 

$

293,400