Quarterly report [Sections 13 or 15(d)]

Debt

v3.26.1
Debt
3 Months Ended
Mar. 31, 2026
Debt [Abstract]  
DEBT

5. DEBT.

 

Long-term borrowings are summarized as follows (in thousands):

 

    March 31,
2026
    December 31, 2025  
Kinergy line of credit   $ 39,168     $ 29,586  
Orion term loan     38,400       55,000  
      77,568       84,586  
Less unamortized debt discount     (2,090 )     (2,288 )
Less unamortized debt financing costs     (2,422 )     (2,671 )
Less current portion           (16,600 )
Long-term debt   $ 73,056     $ 63,027  

 

Excess Availability – As of March 31, 2026, Kinergy had $29.3 million in unused borrowing availability under its line of credit and the Company had $65.0 million that may be available for capital improvement projects under its Orion term loan. The Kinergy line of credit matures in November 2027 and the Orion term loan matures in November 2028.