2 unchanged sentences
We do not hedge against interest rate risk.
−Removed: The interest rate on our Term Loan is determined quarterly based on the 3-month U.S.
−Removed: dollar LIBOR rate, subject to a floor of 1.5%.
−Removed: As of December 31, 2022, the interest rate on our Term Loan was 11.5%.
−Removed: A 100 basis point change in LIBOR, to the extent that such change would not cause LIBOR to be below the 1.5% minimum, would change interest expense by $0.5 million on an annualized basis.
−Removed: During the year ended December 31, 2022, we incurred $0.4 million in incremental interest expense as a result of increases in LIBOR during the year.
+Added: The interest rate on our new Term Loan Facility is currently determined quarterly based on the 1-month SOFR.
+Added: As of December 31, 2023, after giving effect to the Debt Refinancing Transactions, the interest rate on our Term Loan Facility was 7.9%.
+Added: A 100-basis point change in SOFR would change interest expense by $0.5 million on an annualized basis.
+Added: During the year ended December 31, 2023, we incurred $1.5 million in incremental interest expense as a result of increases in relevant reference rates during the year under the Hayfin Loan Agreement.
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.