What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk

2025-08-14 compared with 2025-05-29 · 1 added, 1 removed, 13 unchanged (13% of the section changed)

4 unchanged sentences

The base rate is the highest of (a) the Prime Rate, (b) the Federal Funds Rate plus 0.5% per annum, or (c) one-month term SOFR plus 1.0% per annum.

As of April 20, 2025, we had $171.7 million of borrowings subject to variable interest rates.

As of July 13, 2025, we had $169.2 million of borrowings subject to variable interest rates.

A 1.0% change in the effective interest rate applied to these loans would have resulted in pre-tax interest expense fluctuation of $1.7 million on an annualized basis.

7 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.