Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 97

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 97
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ness and permitted investments.

29

At June 30, 2025, the Company had approximately $163.6 million in outstanding borrowings under the Third Amended and Restated Credit Agreement and also had approximately $0.7 million in standby letters of credit outstanding, drawable as a financial guarantee on worker’s compensation insurance policies. At June 30, 2025, the weighted average interest rate was approximately 5.7% and the Company was in compliance with all covenants under the Third Amended and Restated Credit Agreement.

Long-term debt consists of the following (in thousands):

			June 30, 2025

			Revolving credit facility

			$
			48,000

			Term loan

			115,625

			Total long-term debt

			163,625

			Current portion

			(12,500
			)

			Long-term debt, excluding current portion

			$
			151,125

Future maturities of long-term debt at June 30, 2025 are as follows (in thousands):

			Term Loan

			Revolving credit facility

			Total

			Remainder of 2025

			$
			6,250

			$
			-

			$
			6,250

			2026

			12,500

			-

			12,500

			2027

			12,500

			-

			12,500

			2028

			12,500

			-

			12,500

			2029

			71,875

			48,000

			119,875

			$
			115,625

			$
			48,000

			$
			163,625

Future Liquidity 

The Company requires cash to pay its operating expenses, purchase capital equipment, and to service its contractual obligations. The Company’s principal sources of funds are its operations and its Third Amended and Restated Credit Agreement. The Company generated cash of approximately $39.1 million from operations during the six months ended June 30, 2025. The Company cannot guarantee that its operations will generate cash in future periods. The Company’s longer-term liquidity is contingent upon future operating performance and the availability of draws on its revolving credit facility. Further, the economic uncertainty resulting from events including inflation, tariffs,