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Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events
11.
Subsequent events

Management has evaluated subsequent events through the date of issuance of these financial statements and has determined that there are no subsequent events outside the ordinary scope of business that require adjustment to, or disclosure in, the consolidated financial statements other than those disclosed below.

ABL Third Amendment

On October 24, 2025, the Credit Parties, PNC Bank, National Association, as agent for the lenders, and certain other financial institutions party thereto entered into an amendment to the ABL Credit Agreement (the “ABL Third Amendment”). The ABL Third Amendment, which has a springing maturity, which is the earlier of October 24, 2030 and the date that is ninety-one (91) days prior to the scheduled maturity date of the Company’s 5.25% Senior Notes due 2029, amends and restates the ABL Second Amendment to renew and extend the debt outstanding under the ABL Second Amendment and to (i) increase the aggregate principal amount to $430.0 million, (ii) reduce the Applicable Margins applied to borrowings and (iii) make certain other customary amendments. The obligations under the ABL Third Amendment are secured by substantially all of the assets of the Credit Parties. The maximum borrowing capacity under the ABL Third Amendment is determined by a formula and may fluctuate depending on the value of the collateral included in such formula at the time of determination.

Second Lien Credit Agreement

Upon the closing of the ABL Third Amendment, the Company utilized borrowings under the ABL Credit Agreement to repay the principal borrowings under the Second Lien Credit Agreement. Based on the repayment terms of the Second Lien Credit Agreement, the Company repaid the $100.0 million principal amount, plus a 3%, or $3.0 million, call premium. Additionally, as of October 24, 2025, the Company had approximately $7.7 million in unamortized deferred financing costs related to the Second Lien Credit Agreement. These costs were reclassified from the consolidated balance sheet to interest expense on the consolidated statement of operations in the fourth quarter of 2025.

For further discussion of the ABL Third Amendment and the Second Lien Credit Agreement see the Company’s current report on Form 8-K filed with the SEC on October 27, 2025.