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v3.22.2.2

Debt Obligations (Tables) | 9 Months Ended
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Sep. 30, 2022
Schedule of components of debt obligations | Debt obligations consist of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​
​ |  | 2022 |  | 2021 |
Revolving credit facility | ​ | $ | 335,000 | ​ | $ | 220,000 | ​
Term loan | ​ | ​ | — | ​ | ​ | 120,000 | ​
Notes to former owners | ​ | ​ | 45,400 | ​ |  | 47,954 | ​
Finance lease liabilities (See Note 8) | ​ | ​ | 79 | ​ | ​ | 266 | ​
Other debt | ​ | ​ | 227 | ​ | ​ | — | ​
Total principal amount | ​ | ​ | 380,706 | ​ |  | 388,220 | ​
Less—unamortized debt issuance costs | ​ | ​ | — | ​ | ​ | (190) | ​
Total debt, net of unamortized debt issuance costs | ​ | ​ | 380,706 | ​ | ​ | 388,030 | ​
Less—current portion | ​ | ​ | (2,514) | ​ |  | (2,788) | ​
Total long-term portion of debt, net | ​ | $ | 378,192 | ​ | $ | 385,242 | ​
Schedule of future principal payments of notes to former owners | At September 30, 2022, future principal payments of debt are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​
Year ending December 31— |  | ​ |  | ​
2022 (remainder of the year) | ​ | $ | 499 | ​
2023 |  | ​ | 9,467 |
2024 | ​ |  | 10,867 | ​
2025 | ​ |  | 22,229 | ​
2026 | ​ |  | 2,644 | ​
2027 | ​ |  | 335,000 | ​
​ | ​ | $ | 380,706 | ​
Schedule of market rates relating to interest options under the Facility | ​
​ | ​ | ​ | ​
Base Rate Loan Option: |  |  |
Federal Funds Rate plus 0.50% |  | 3.58% | ​
Wells Fargo Bank, N.A. Prime Rate | ​ | 6.25% | ​
One-month SOFR plus 1.00% | ​ | 3.47% | ​
SOFR Loan Option: | ​ | ​ | ​
One-month SOFR | ​ | 2.47% | ​
Six-month SOFR | ​ | 1.43% | ​
Summary of additional margins | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Leverage Ratio | ​
​ |  | Less than 1.00 |  | 1.00 to less than 1.75 |  | 1.75 to less than 2.50 |  | 2.50 to less than 3.00 |  | 3.00 or greater | ​
Additional Per Annum Interest Margin Added Under: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Base Rate Loan Option | ​ | 0.00 | % | 0.25 | % | 0.50 | % | 0.75 | % | 1.00 | %
SOFR Loan Option | ​ | 1.00 | % | 1.25 | % | 1.50 | % | 1.75 | % | 2.00 | %
Letter of credit fees | ​ | 1.00 | % | 1.25 | % | 1.50 | % | 1.75 | % | 2.00 | %
Commitment fees on any portion of the Revolving Loan capacity not in use for borrowings or letters of credit at any given time | ​ | 0.15 | % | 0.175 | % | 0.20 | % | 0.225 | % | 0.25 | %
Notes to Former Owners |
Schedule of future principal payments of notes to former owners |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance at | ​ | Range of Stated
​ |  | September 30, 2022 | ​ | Interest Rates
2022 |  | $ | 400 |  | 2.5 | %
2023 | ​ | ​ | 9,400 | ​ | 2.5 | %
2024 | ​ |  | 10,800 | ​ | 2.5 - 3.0 | %
2025 | ​ |  | 22,175 | ​ | 2.3 - 2.5 | %
2026 | ​ |  | 2,625 | ​ | 2.5 | %
Total | ​ | $ | 45,400 | ​ | ​ | ​

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