3 unchanged sentences
We are exposed to market risks related to fluctuations in interest rates on amounts borrowed under the Credit Facility.
−Removed: As of June 30, 2022, we had $268.7 million outstanding under our Term Loan.
+Added: As of December 31, 2022, we had $245.6 million outstanding under our Term Loan.
Borrowings under the Term Loan Facility bear interest at a rate per annum equal to LIBOR with a floor of 0.50% for an interest period of one, three or six months as selected by Digi, reset at the end of the selected interest period (or a replacement benchmark rate if LIBOR is no longer available) plus 5.00% or a base rate plus 4.00%.
2 unchanged sentences
The applicable margin for loans under the Revolving Credit Facility is in a range of 4.00-3.75% for LIBOR loans and 3.00 to 2.75% for base rate loans, depending on Digi’s consolidated leverage ratio.
−Removed: Based on the balance sheet position for the Revolving Loan at June 30, 2022, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.7 million.
+Added: Digi bases the interest period election on an assessment of the interest rate environment conducted on a monthly basis.
+Added: Digi presently expects to continue to elect a one month interest period, unless conditions change.
+Added: Based on the balance sheet position for the Revolving Loan at December 31, 2022, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.6 million.
For additional information, see Note 6 to our condensed consolidated financial statements.
8 unchanged sentences
We have not implemented a formal hedging strategy.
−Removed: A 10% change in the average exchange rate for the Euro, British Pound, Japanese Yen and Canadian Dollar to the U.S.
−Removed: Dollar during the first nine months of fiscal 2022 would have resulted in a 0.6% increase or decrease in stockholders' equity due to foreign currency translation.
+Added: A 10% change in the average exchange rate for the Euro, British Pound, Australian Dollar and Canadian Dollar to the U.S.
+Added: Dollar during the first three months of fiscal 2023 would have resulted in a 1.0% increase or decrease in stockholders' equity due to foreign currency translation.
We have exposure to credit risk related to our accounts receivable portfolio.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.