2 unchanged sentences
We do not hedge against interest rate risk.
−Removed: The interest rate on our new Term Loan Facility is currently determined quarterly based on the 1-month SOFR.
−Removed: 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: Interest Rate Risk
+Added: The interest rate on our Term Loan Facility is currently determined quarterly based on the 1-month SOFR.
+Added: As of December 31, 2024, the interest rate on our Term Loan Facility was 6.7%.
A 100-basis point change in SOFR would change interest expense by $0.2 million on an annualized basis.
−Removed: 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.