Company: ALIT
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001809104-25-000175
Chunk: 100

Company: Alight, Inc. / Delaware
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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, and March 31, 2024, the Company made total principal payments on the Incremental Term Loans of $5 million and $6 million, respectively. Revolving Credit FacilityIn August 2021, the Company entered into a $294 million revolving credit facility with a maturity date of August 31, 2026. In March 2023, the Company amended and upsized the revolving credit facility to $300 million and updated the benchmark reference rate from LIBOR to Term SOFR. At March 31, 2025, an immaterial amount of unused letters of credit related to various insurance policies and real estate leases were issued under the revolving credit facility and there were no borrowings. The Company is required to make periodic payments for commitment fees and interest related to the revolving credit facility and outstanding letters of credit. During each of the three months ended March 31, 2025 and 2024, the Company made immaterial payments related to these fees.Financing Fees, Premiums and Interest Expense The Company capitalized financing fees and premiums related to the Term Loan and Revolver issued. These financing fees and premiums were recorded as an offset to the aggregate debt balances and are being amortized over the respective loan terms.Total interest expense related to the debt instruments for the three months ended March 31, 2025, and 2024, was $32 million, and $55 million, respectively. Interest expense is recorded in Interest expense in the Condensed Consolidated Statements of Comprehensive Income (Loss), and is net of interest rate swap derivative gains recognized. Principal PaymentsAggregate remaining contractual principal payments as of March 31, 2025 are as follows (in millions):2025 (April - December)$15 202620 202720 20281,970 Total payments$2,025 

9. Stockholders' EquityPreferred StockAs of March 31, 2025, 1,000,000 preferred shares, par value $0.0001 per share, were authorized and no preferred shares were issued and outstanding.

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Class A Common StockAs of March 31, 2025, 531,870,154 shares of Class A Common Stock were outstanding. On July 2, 2024, all remaining shares of unvested Class A Common Stock became fully vested. Holders of shares of Class A Common Stock are entitled to one vote per share, and together with the holders of shares of Class B Common Stock, will participate ratably in any dividends declared