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, 2023, we had $220.6 million outstanding under our Term Loan.
−Removed: 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%.
−Removed: The base rate is determined by reference to the highest of BMO’s prime rate, the Federal Funds Effective Rate plus 0.50%, or the one-month LIBOR for U.S.
−Removed: dollars plus 1.00%.
−Removed: The applicable margin for loans under the Revolving Credit Facility is in a range of 4.00% to 3.75% for LIBOR loans and 3.00% to 2.75% for base rate loans, depending on Digi’s consolidated leverage ratio.
−Removed: Digi bases the interest period election on an assessment of the interest rate environment conducted on a monthly basis.
−Removed: Digi presently expects to continue to elect a one month interest period, unless conditions change.
−Removed: Based on the balance sheet position for the Revolving Loan at June 30, 2023, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.6 million.
−Removed: Following the discontinuation of LIBOR on June 30, 2023, borrowings under the Term Loan Facility will be subject to the Secured Overnight Financing Rate (SOFR).
+Added: As of December 31, 2023, we had $196.0 million outstanding under our Revolving Loan.
+Added: Borrowings under the Credit Facility bear interest at a rate per annum equal to Term SOFR with a floor of 0.00% 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 Term SOFR is no longer available) plus the applicable margin or a base rate plus the applicable margin.
+Added: The base rate is determined by reference to the highest of (1) BMO’s prime rate, (2) the rate determined by BMO to be the average rate of Federal funds in the secondary market plus 0.50%, or (3) one-month SOFR plus 1.00%.
+Added: The applicable margin for loans under the Credit Facility is in a range of 1.75 to 2.75% for Term SOFR loans and 0.75% to 1.75% for base rate loans, depending on Digi’s total net leverage ratio.
+Added: The initial borrowings were made at Term SOFR for a one-month interest period plus an applicable margin of 2.50%.
+Added: Our weighted average interest rate for our Credit Facility as of December 31, 2023 was 7.96%.
+Added: Digi bases the interest period election described above on an assessment of the interest rate environment conducted on a monthly basis.
+Added: Based on the balance sheet position for the Revolving Loan at December 31, 2023, the annualized effect of a 25 basis point change in interest rates would increase or decrease our interest expense by $0.5 million.
For additional information, see Note 5 to our condensed consolidated financial statements.
9 unchanged sentences
A 10% change in the average exchange rate for the Euro, British Pound, Australian Dollar and Canadian Dollar to the U.S.
−Removed: Dollar during the first nine months of fiscal 2023 would have resulted in a 1.0% increase or decrease in stockholders' equity due to foreign currency translation.
+Added: Dollar during the first three months of fiscal 2024 would have resulted in a 1.5% 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.