Credit Facility

On December 8, 2016, the Company entered into a $45 million three-year senior secured revolving credit facility (the “Facility”) under a revolving credit agreement with Jefferies Finance LLC as administrative and collateral agent (the “Credit Agreement”). Substantially all of the assets of the Company are pledged as collateral under the Facility. The Facility expires on December 8, 2019. On April 8, 2018, the Facility was amended to increase the Company's total borrowing capacity under the Facility to $60 million. The amendment was considered a modification of the Facility. On July 13, 2018, the Facility was amended to (i) increase the limit on the Company's ability to sell, transfer or dispose of assets, subject to certain considerations from an aggregate amount of $25 million to $55 million, (ii) increase the limit on the Company's ability to incur capital lease obligations from an aggregate principal amount of $15 million to $30 million and (iii) exclude certain current and future earn-out obligations from the definition of indebtedness in the Credit Agreement.

The Facility contains various reporting requirements, negative covenants and restrictive provisions and requires maintenance of financial covenants, including a fixed charge coverage ratio and a leverage ratio (each as defined in the Credit Agreement). As of June 30, 2018 and December 31, 2017, $45 million and $0, respectively, were outstanding under the Facility and the Company was in compliance with all covenants. As of June 30, 2018, the total undrawn availability was $15 million.

As of June 30, 2018, fees attributable to the lender of $698 are presented as a discount to the carrying value of the debt and the unamortized amount is presented as a reduction of long-term debt on the balance sheet.



	June 30, 2018			December 31, 2017
Revolving credit facility	$	45,000		$	—
Less: debt discount, net	(346		)	—
Revolving credit facility, net	$	44,654		$	—