XML 62 R54.htm IDEA: XBRL DOCUMENT v3.25.2
Debt - Summary of Debt Outstanding (Detail) - USD ($)
$ in Millions
3 Months Ended
Aug. 31, 2025
May 31, 2025
Dec. 17, 2024
Long-term debt:      
Total $ 73.4 $ 2.3  
Less: current maturities of long-term debt 30.3 0.0  
Long-term debt, net of current maturities 43.1 2.3  
Short-term borrowing and current maturities:      
Total short-term borrowings and current maturities 190.3 149.2  
Total Debt 233.4 151.5  
FED DEV Loan      
Long-term debt:      
Rate     0.00%
Long-term debt, net of current maturities 2.3 2.3  
FED DEV Loan | Unsecured      
Long-term debt:      
Total $ 2.3 2.3  
Maturity Mar. 31, 2032    
BDC Loan | Secured      
Long-term debt:      
Total $ 21.6    
Maturity Jun. 30, 2051    
AMIC Loan | Unsecured      
Long-term debt:      
Total $ 0.7    
Maturity May 31, 2032    
AMIC Loan | Unsecured | Minimum      
Long-term debt:      
Rate 0.00%    
AMIC Loan | Unsecured | Maximum      
Long-term debt:      
Rate 5.97%    
Sitem Group Term Loan 1 | Unsecured      
Long-term debt:      
Total [1] $ 3.7    
Maturity Jun. 30, 2029    
Sitem Group Term Loan 2 | Unsecured      
Long-term debt:      
Total $ 1.3    
Rate 1.50%    
Maturity Mar. 31, 2027    
Sitem Group Term Loan 3 | Secured      
Long-term debt:      
Total $ 4.4    
Rate 1.94%    
Maturity Sep. 30, 2030    
Sitem Group Term Loan 4 | Unsecured      
Long-term debt:      
Total $ 0.2    
Rate 0.36%    
Maturity Feb. 28, 2029    
Sitem Group Term Loan 5 | Unsecured      
Long-term debt:      
Total [2] $ 3.5    
Maturity Mar. 31, 2029    
Sitem Group Term Loan 6 | Unsecured      
Long-term debt:      
Total $ 0.8    
Rate 0.55%    
Maturity Dec. 31, 2028    
Sitem Group Term Loan 7 | Unsecured      
Long-term debt:      
Total [2] $ 1.1    
Maturity Mar. 31, 2027    
Sitem Group Term Loan 8 | Secured      
Long-term debt:      
Total $ 1.3    
Maturity May 31, 2026    
Sitem Group Term Loan 9 | Secured      
Long-term debt:      
Total [3] $ 6.5    
Maturity Mar. 31, 2030    
Sitem Group Term Loan 10 | Secured      
Long-term debt:      
Total $ 0.5    
Maturity Sep. 30, 2026    
Sitem Group Term Loan 11 | Unsecured      
Long-term debt:      
Total $ 4.0    
Maturity Mar. 31, 2028    
Sitem Group Term Loan 12 | Unsecured      
Long-term debt:      
Total $ 0.4    
Rate 0.65%    
Maturity Nov. 30, 2025    
Sitem Group Term Loan 13 | Secured      
Long-term debt:      
Total $ 0.1    
Rate 0.90%    
Maturity Oct. 31, 2026    
Standstill Agreement - Sitem Group | Secured      
Long-term debt:      
Total $ 21.0    
Maturity Jun. 30, 2026    
BDC Floating Base Rate | BDC Loan | Secured      
Long-term debt:      
Rate 1.75%    
Euribor 3m/360 | Sitem Group Term Loan 1 | Unsecured      
Long-term debt:      
Rate [1] 1.50%    
Euribor 3m/360 | Sitem Group Term Loan 5 | Unsecured      
Long-term debt:      
Rate [2] 1.60%    
Euribor 3m/360 | Sitem Group Term Loan 9 | Secured      
Long-term debt:      
Rate [3] 1.90%    
Euribor 3m/360 | Sitem Group Term Loan 10 | Secured      
Long-term debt:      
Rate 1.20%    
Euribor 3m/360 | Sitem Group Term Loan 11 | Unsecured      
Long-term debt:      
Rate 1.65%    
Euribor 1m/360 | Sitem Group Term Loan 7 | Unsecured      
Long-term debt:      
Rate [2] 1.40%    
Euribor 1m/360 | Sitem Group Term Loan 8 | Secured      
Long-term debt:      
Rate 1.65%    
SARON | Standstill Agreement - Sitem Group | Secured      
Long-term debt:      
Rate 0.00%    
Rate 5.00%    
Revolving Credit Facility      
Short-term borrowing and current maturities:      
Total short-term borrowings and current maturities $ 160.0 $ 149.2  
Revolving Credit Facility | Secured      
Long-term debt:      
Maturity Nov. 30, 2028    
[1] Sitem Group shall maintain a ratio of bank debt plus financial lease obligations less cash and cash equivalents (“Net Financial Position” or “NFP”) to net earnings before interest, tax, depreciation and amortization (“EBITDA”) less than or equal to 3, and a ratio of NFP to Equity less than or equal to 1.
[2] Sitem Group shall maintain a ratio of NFP to EBITDA less than or equal to 3, a ratio of NFP to Equity less than or equal to 1, a ratio of EBITDA to financial expenses less than or equal to 10, and a NFP less than or equal to €40.0 million (approximately USD $45.7 million as of August 31, 2025).
[3] Sitem Group shall maintain a ratio of NFP to EBITDA less than or equal to 3.60, a ratio of NFP to Equity less than or equal to 1.20, a ratio of EBITDA to financial expenses less than or equal to 8, and a NFP less than or equal to €48.0 million (approximately USD $54.8 million as of August 31, 2025).