Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 51

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 51
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 convert a portion of the floating rate component of the Term Loan from a floating rate to fixed rate:EffectiveExpirationFixed InterestNotionalAsset (Liability) Fair Value atSwapDateDateRateAmountMarch 31, 2025(in thousands)(in thousands)Initial SwapOctober 31, 2022October 31, 20274.212 %$200,000 $(2,645)Second SwapMarch 31, 2023October 31, 20273.951 %100,000 (641)Third SwapSeptember 20, 2024October 31, 20273.395 %125,000 926 

13

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

The Swap Agreements are accounted for as derivatives whereby the fair value of each contract is reported within the unaudited condensed consolidated balance sheets, and related gains or losses resulting from changes in the fair value are reported in interest and other expense, net, in the unaudited condensed consolidated statements of operations and comprehensive loss. As of March 31, 2025 the fair value of the Initial and Second Swaps were a liability of $3.3 million, while the fair value of the Third Swap was an asset of $0.9 million, which are reported in other non-current liabilities and other non-current assets, respectively, on the unaudited condensed consolidated balance sheets. The related gains and losses resulting from changes in fair value was a loss of $3.9 million and a gain $4.8 million during the three months ended March 31, 2025 and 2024, respectively.The Company’s Credit Facilities are subject to certain financial and nonfinancial covenants and are secured by substantially all assets of the Company. As of March 31, 2025, the Company was in compliance with all of its covenants.Aggregate maturities of the Company’s debt for the years ending December 31 are as follows as of March 31, 2025 (in thousands):Year ending December 31:2025 (remainder of year)$4,125 20265,500 20275,500 2028515,625 Thereafter— Total aggregate maturities of the Company’s debt$530,750 

Note 12. EquityOn July 6, 2021, the Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to authorize the