Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 39

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 39
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IBOR plus a margin of 3.25% in the case of benchmark rate loans. Subsequent to the delivery of our financial statements for the first full fiscal quarter following our acquisition of Alani Nu, the interest rate margins under the Term Loan Facility and the Revolving Facility will be subject to step-downs based on the first lien net leverage ratio. The applicable interest rate will be adjusted quarterly on a prospective basis based upon the first lien net leverage ratio in accordance with the terms of the Credit Agreement. The Term Loan Facility and Revolving Facility are secured by a first priority security interest in our and the other borrowers’ and guarantors’ cash, accounts receivable, intellectual property, books and records and related assets and certain intellectual property of other subsidiaries.

We believe our current liquidity position, ongoing cash flow from operations, and access to financing facilities, including the Revolving Facility, are sufficient to meet our near-term and long-term obligations, including integration efforts and other strategic investments following the acquisition of Alani Nu.

Cash flows for the three months ended March 31, 2025 and 2024

Cash flows provided by operating activities

Cash flows provided by operating activities totaled $103.4 million for three months ended March 31, 2025, which compares to $134.6 million net cash provided by operating activities for the three months ended March 31, 2024. The $31.2 million decrease was attributable to a decrease in net income and changes in working capital, including the timing of certain payments and strategic inventory management.

Cash flows used in investing activities

Cash flows used in investing activities totaled $6.9 million for three months ended March 31, 2025, compared to cash used in investing activities of $4.5 million for the three months ended March 31, 2024, related to increased purchases of property, plant and equipment. 

Cash flows used in financing activities

Cash flows used in financing activities totaled $10.6 million for the three months ended March 31, 2025, compared to $5.9 million for the same period in 2024, representing a $4.7 million increase. The increase was primarily driven by higher repurchases of common stock for tax withholding obligations related to the vesting of stock based compensation awards and by debt issuance costs incurred in connection with the debt financing arranged for the Alani acquisition, and decreased proceeds from stock option exercises.

The majority of cash used in financing activities in both periods was attributable to dividend payments on our Series