Company: CTLPP
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023882
Chunk: 69

Company: CANTALOUPE, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 option, on a base rate or SOFR plus an applicable margin tied to the Company’s total leverage ratio and having ranges of between 2.50% and 3.00% for base rate loans and between 3.50% and 4.00% for SOFR loans. Subject to the occurrence of a material acquisition and the Company’s total leverage ratio exceeding 3.00 to 1.00, the interest rate on the loans may increase by 0.25%. In an event of default, the interest rate may be increased by 2.00%. The 2022 Amended JPMorgan Credit Facility also carried a commitment fee of 0.50% per annum on the unused portion.The 2022 Amended JPMorgan Credit Facility includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. One financial covenant requires the Company to maintain, at all times, a total leverage ratio of not more than 3.00 to 1.00 on the last day of any fiscal quarter. The other financial covenant is conditional on a material acquisition occurring: if a material acquisition occurs, the Company is required to maintain a total leverage ratio not greater than 4.00 to 1.00 for the next four fiscal quarters following the material acquisition. The Company was in compliance with its financial covenants for the 2022 Amended JPMorgan Credit Facility until the 2025 Credit Facility modification. See above for the new financial covenants.Expected MaturitiesThe expected maturities for each fiscal year associated with the Company’s outstanding debt and other financing arrangements as of March 31, 2025, were as follows:

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($ in thousands)AmountRemainder of fiscal year 2025$500 20262,000 20272,500 20283,000 20293,500 Thereafter28,000 Principal amounts payable39,500 Unamortized issuance costs(340)Total outstanding debt$39,160 

7. ACCRUED EXPENSES

Accrued expenses consisted of the following as of March 31, 2025 and June 30, 2024:As of March 31,As of June  30,($ in thousands)20252024Sales tax$7,429 $10,574 State income tax payable1,520 1,496 Acc