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Subsequent Events
9 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
Subsequent Events

Note 16. Subsequent Events

 

In connection with the refinancing of the First Lien Credit Facility as part of the acquisition of Sterling, the Company will record the related accounting in the fourth quarter of 2024. Additionally, in connection with the acquisition of Sterling, the Company entered into separation agreements with certain Sterling executives. The Company will incur incremental compensation expense related to separation payments and accelerated vesting of certain equity awards in the fourth quarter of 2024.

On November 4, 2024, the Company entered into an interest rate swap agreement with a notional amount of $275.0 million. The interest rate swap will hedge a portion of the floating one-month SOFR rate on the Company’s 2024 First Lien Credit Agreement with a fixed rate of 3.94%. The interest rate swap agreement is effective as of October 31, 2024 and matures on October 31, 2027.