Is the interest on your term loan based on SOFR or the lender base rate plus a margin? It appears it is at the company’s option to pick. Which SOFR is used? There is spot SOFR, 30-day Term SOFR and 90-day Term SOFR?

January 31, 2025

As you note, we have the option of paying interest based either on the applicable Secured Overnight Financing Rate (SOFR) plus a margin or the lender base rate plus a margin. To date we have opted to pay interest based on 1-month SOFR plus a spread based on our consolidated leverage ratio, to preserve prepayment flexibility.

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