Quarterly report pursuant to Section 13 or 15(d)

Debt

v3.23.1
Debt
 3 Months Ended
Mar. 31, 2023
Debt [Abstract]  
DEBT

5. DEBT.

 

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

 

    March 31,
2023		     December 31,
2022		  
Kinergy line of credit   $ 33,430     $ 18,076  
Orion term loan     60,000       60,000  
      93,430       78,076  
Less unamortized debt discount     (4,497 )     (4,686 )
Less unamortized debt financing costs     (5,194 )     (5,034 )
Less current portion    
—
      
—
  
Long-term debt   $ 83,739     $ 68,356  

Excess Availability – As of March 31, 2023, Kinergy had $41.6 million in unused borrowing availability under its line of credit.