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SUBSEQUENT EVENTS
6 Months Ended
Sep. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS SUBSEQUENT EVENTS
2024 Delayed Draw Term Loan
Under the terms of the 2024 Credit Agreement, the Company has the right to prepay the 2024 Term Loan at any time without any premium or penalty. On October 7, 2024, the Company paid $15.0 million of quarterly principal payments due October 31, 2024 and December 31, 2024, under the 2024 Term Loan. On November 1, 2024, the Company prepaid $18.0 million of additional principal payments. These short-term principal debt payments are accounted for as partial debt extinguishment transactions. As a result, the recognition of any associated unamortized debt discount and issuance costs of the 2024 Term Loan will be recognized within other expense, net, in the consolidated statement of operations for the three and nine months ended December 31, 2024. The remaining principal amount of the 2024 Term Loan after the payments is $167.0 million.
FCC Investigation of 8x8, Inc. and Fuze, Inc.
With respect to the FCC Investigation of the Company and Fuze, Inc. discussed in Note 7, Commitments and Contingencies, a Consent Decree was entered into with the FCC on November 1, 2024 under which the Company has agreed to implement a compliance plan, submit compliance reports to the FCC in certain intervals over the next three years and pay a civil penalty of $0.3 million, to be remitted to the FCC within thirty days. Subject to such requirements and other conditions enumerated under the Consent Decree, this concludes the FCC’s Investigation of the Company and Fuze, Inc. and the Company considers the matter to be closed.