Company: IIIV
Filing Date: 2025-02-07
Form Type: 10-Q
Source: 0001728688-25-000043
Chunk: 20

Company: i3 Verticals, Inc.
Filing Date: 2025-02-07
Form: 10-Q
Item: Part I, Item 2
Chunk 20
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 provisions of the amendment to the Prior Senior Secured Credit Facility and to pay the cost of the Note Hedge Transactions. As of December 31, 2024, $26.2 million of the original aggregate principal amount of $138.0 million was outstanding.

On December 21, 2023, i3 Verticals, LLC entered into agreements to repurchase a portion of its Exchangeable Notes pursuant to privately negotiated transactions with a limited number of holders of the Exchangeable Notes (the "Exchangeable Note Repurchases"). The Exchangeable Note Repurchases were completed on January 18, 2024, and the Company paid $87.4 million to repurchase $90.8 million in aggregate principal amount of its Exchangeable Notes and to repay approximately $0.4 million in accrued interest on the repurchased portion of the Exchangeable Notes. Following the closing of the Exchangeable Note Repurchases, 

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approximately $26.2 million in aggregate principal amount of the Exchangeable Notes remained outstanding, with terms unchanged. For additional information, see Note 8 to our condensed consolidated financial statements.

Material Cash Requirements

The following table summarizes our material cash requirements as of December 31, 2024, including those related to leases and borrowings:Payments Due by PeriodContractual ObligationsTotalLess than 1 year1 to 3 years3 to 5 yearsMore than 5 years(in thousands)Facility leases(1)$9,784 $3,983 $4,017 $1,313 $471 2023 Senior Secured Credit Facility and related interest(2)2,266 675 1,350 241 — Exchangeable Notes and related interest(3)26,256 26,256 — — — Contingent consideration(4)3,669 339 3,330 — — Total$41,975 $31,253 $8,697 $1,554 $471 __________________________

1.In addition to the facility leases presented, we have $59.0 thousand in short-term leases. These payments will be made within the next twelve months.

2.We estimated interest payments through the maturity of our 2023 Senior Secured Credit Facility by the unused fee rate of 0.15% in effect as of December 31, 2024.

3.The chart set forth above calculates interest payments through the maturity of our Exchangeable Notes by applying the coupon interest rate of 1