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As of December 31, 2025, our debt included variable-rate debt, with a fair value and carrying value of $92.0 million.
−Removed: As a result, we are subject to the potential impact of rising interest rates, which could negatively impact our results of operations and cash flows.
+Added: As a result, we are subject to the potential impact of increases in interest rates, which could negatively impact our results of operations and cash flows.
The sensitivity analysis related to our variable-rate debt assumes an immediate 100 basis point move in interest rates from December 31, 2025 levels and excludes the impact of the derivative instrument, with all other variables held constant.
A 100 basis point increase or decrease in variable interest rates would result in a decrease or increase in the fair value of our variable-rate debt of less than $0.1 million and would increase or decrease our interest expense by $0.9 million annually.
−Removed: As of December 31, 2024, the Company had interest rate collar agreements in place on a total notional amount of $60.0 million to hedge against interest rate volatility on the Revolving Facility.
+Added: As of December 31, 2025, the Company had interest rate collar agreements in place on a total notional amount of $75.0 million to hedge against interest rate volatility on the Original Revolving Facility and subsequently the New Revolving Facility.
See Note 6 – Debt, Net to our consolidated financial statements.
23 unchanged sentences
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.