4 unchanged sentences
Floating Rate Debt
−Removed: As of June 30, 2025, our outstanding floating rate debt consisted of the following:
+Added: As of September 30, 2025, our outstanding floating rate debt consisted of the following:
Annual Annual Interest
9 unchanged sentences
In addition, upon renewal or refinancing of these obligations, we are vulnerable to increases in interest rate premiums, including increases in the cost of replacement interest rate caps, due to market conditions and our perceived credit risk.
−Removed: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2025, including the impact of our interest rate cap:
+Added: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at September 30, 2025, including the impact of our interest rate cap:
Impact of an Increase in Interest Rates
4 unchanged sentences
Debt Per Year Share Impact (1)
−Removed: At June 30, 2025
+Added: At September 30, 2025
5.87 % $ 1,400,000 $ 83,321 $ (1.26)
1 unchanged sentence
5.87 % $ 1,400,000 $ 83,321 $ (1.26)
−Removed: (1) Based on the diluted weighted average common shares outstanding for the three months ended June 30, 2025.
+Added: (1) Based on the diluted weighted average common shares outstanding for the three months ended September 30, 2025.
(2) A one percentage point increase in interest rates would not have an impact on annual total interest expense for our floating rate debt because current interest rates exceed the strike rates of the related interest rate cap.
−Removed: However, a one percentage point increase in our weighted average interest rate of the Mountain Floating Rate Loan debt to 6.87% at June 30, 2025 would result in total floating rate interest expense per year of $97,516 and a decrease in annual earnings per share of $1.48.
+Added: However, a one percentage point increase in our weighted average interest rate of the Mountain Floating Rate Loan debt to 6.87% at September 30, 2025 would result in total floating rate interest expense per year of $97,516 and a decrease in annual earnings per share of $1.48.
The foregoing table shows the impact of an immediate one percentage point change in floating interest rates, including the impact of our interest rate caps.
2 unchanged sentences
Fixed Rate Debt
−Removed: As of June 30, 2025, our outstanding fixed rate debt consisted of the following:
+Added: As of September 30, 2025, our outstanding fixed rate debt consisted of the following:
Number of Annual
25 unchanged sentences
There are uncertainties surrounding interest rates and they may remain at current levels, decrease or increase.
−Removed: Based on the balances outstanding at June 30, 2025 and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of these obligations by approximately $121,098.
+Added: Based on the balances outstanding at September 30, 2025 and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of these obligations by approximately $119,562.
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.