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Debt (Tables)
12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Summary of Components of Debt

Debt consists of the following (in thousands):

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Initial Term Loan under the 2023 Term Loan Credit Facility

 

$

180,000

 

 

$

180,000

 

ADDT Loan

 

 

135,617

 

 

 

 

DDT Loan under the 2023 Term Loan Credit Facility

 

 

20,000

 

 

 

 

2023 ABL Credit Facility

 

 

70,000

 

 

 

 

Deferred Cash Consideration Note

 

 

111,252

 

 

 

 

Other indebtedness

 

 

4,058

 

 

 

 

Less: Debt discount, net of accumulated amortization of $4,009 and $480, respectively

 

 

(9,380

)

 

 

(6,769

)

Less: Deferred financing fees, net of accumulated amortization of $255 and $29, respectively

 

 

(822

)

 

 

(411

)

Less: Current portion (a)

 

 

(43,736

)

 

 

 

Long-term debt

 

$

466,989

 

 

$

172,820

 

(a) The current portion of long-term debt reflects payments based on the terms of the 2023 Term Loan Credit Facility, the ADDT Loan, and other indebtedness.

 

Summary of Future Principal Payment Obligations

The following table sets forth future principal payment obligations as of December 31, 2024, based on the terms of the Deferred Cash Consideration Note, the 2023 Term Loan Credit Facility, the ADDT Loan, the 2023 ABL Credit Facility, and other indebtedness (in thousands).

 

 

 

 

2025

 

$

43,736

 

2026

 

 

157,763

 

2027

 

 

50,347

 

2028

 

 

55,724

 

2029

 

 

131,685

 

Thereafter

 

 

81,672

 

Total

 

$

520,927