Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 193

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part II, Item 8
Chunk 193
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REE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsJune 30, 2025(in thousands, except share data)

(9) Debt, net

The following table presents the balance of the Company’s debt obligations, net of discounts and deferred financing costs for our corporate and asset based debt. Asset based debt is generally recourse only to specific assets and related cash flows. As of June 30, 2025Corporate debtInsuranceMortgageCorporateTotalSecured revolving credit agreements (1)$50,000 $— $— $50,000 Secured term credit agreement (SOFR + 5.25%)(2)— — 74,625 74,625 Preferred trust securities (SOFR + 4.10% + spread adjustment)(3)— — — — 8.50% Junior subordinated notes 125,000 — — 125,000 9.25% Junior subordinated notes 150,000 — — 150,000 Total corporate debt325,000 — 74,625 399,625 Asset based debtAsset based revolving financing (SOFR + 2.75%)46,419 — — 46,419 Residential mortgage warehouse borrowings (1.75% to 3.30% over SOFR)(4)(5)— 64,069 — 64,069 Total asset based debt46,419 64,069 — 110,488 Total debt, face value371,419 64,069 74,625 510,113 Unamortized discount, net— — (652)(652)Unamortized deferred financing costs(14,423)(15)(1,994)(16,432)Total debt, net$356,996 $64,054 $71,979 $493,029 As of December 31, 2024Corporate debtInsuranceMortgageCorporateTotalSecured revolving credit agreements (1)$— $— $— $— Secured term credit agreement (SOFR + 5.25%)(2)— — — — Preferred trust securities (SOFR + 4.10% + spread adjustment)(3)35,000 — — 35,000 8.50% Junior subordinated notes 125,000 — — 125,000 9.25