Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 88

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 plus 5.25%, with quarterly principal payments at an amount equal to 0.25% of the aggregate original principal.Preferred Trust SecuritiesOn June 20, 2007, a subsidiary of Fortegra issued $35,000 of preferred trust securities due June 15, 2037. Interest is payable quarterly at an interest rate of SOFR plus 4.10% plus a spread adjustment (previously, LIBOR plus 4.10%). The Company redeemed the preferred trust securities, at the full outstanding principal amount, $35,000, and unpaid interest, $771, on March 17, 2025.Junior Subordinated NotesOn October 16, 2017, a subsidiary of Fortegra issued $125,000 of 8.50% Fixed Rate Resetting Junior Subordinated Notes due October 2057 (the “2017 Notes”). Substantially all of the net proceeds were used to repay the existing secured credit agreement at that time, which was terminated thereafter. Beginning on October 15, 2027, the Company may redeem the 2017 Notes at par plus accrued and unpaid interest.On November 7, 2024, Fortegra issued $150,000 of 9.25% Fixed Rate Resetting Junior Subordinated Notes due November 2064 (the “2024 Notes”). The proceeds of the 2024 Notes were used to repay outstanding indebtedness under the Company’s credit agreement, for insurance company growth capital and general corporate purposes. Beginning on November 15, 2029, the Company may redeem the 2024 Notes at par plus accrued and unpaid interest. Asset Based DebtAsset Based Revolving FinancingAs of June 30, 2025 and December 31, 2024, a total of $46,419 and $63,699, respectively, was outstanding under the borrowing related to our premium finance offerings in our insurance business. 

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Table of ContentsTIPTREE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsJune 30, 2025(in thousands, except share data)

Residential Mortgage Warehouse BorrowingsAs of June 30, 2025, our mortgage business had three warehouse lines of credit with three separate lending partners totaling $105,000 of borrowing capacity. The $50,000 line of credit matures in August 2025, the $25,000 line of credit matures in June 2026, and the $30,000 line of credit matures in February