Company: EVCM
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001853145-25-000017
Chunk: 72

Company: EverCommerce Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 72
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)$3,159 20264,048 20273,468 20282,792 20292,481 Thereafter2,254 Total lease payments18,202 Less: imputed interest2,499 Total present value of lease liabilities$15,703 

12

EverCommerce Inc.Notes to Unaudited Condensed Consolidated Financial Statements

Note 11. Long-Term DebtLong-term debt consisted of the following as of:March 31,December 31,20252024(in thousands)Term note with interest payable monthly, interest rate at Adjusted SOFR, plus an applicable margin of 2.50% (6.82492% at March 31, 2025) quarterly principal payments of 0.25% of original principal balance with balloon payment due July 2028$530,750 $532,125 Revolver with interest payable monthly, interest rate at Adjusted SOFR, plus an applicable margin of 3.00% (7.43385% at March 31, 2025), and outstanding balance due July 2026— — Principal debt530,750 532,125 Deferred financing costs on long-term debt(2,851)(3,069)Discount on long-term debt(1,035)(1,114)Total debt526,864 527,942 Less current maturities5,500 5,500 Long-term portion$521,364 $522,442 The Company is party to a credit agreement, as amended, that provides for one term loan for an aggregate principal amount of $550.0 million (“Term Loan”), a revolver with a capacity of $190.0 million (“Revolver”) and a sub-limit of the Revolver available for letters of credit up to an aggregate face amount of $20.0 million. These debt arrangements are collectively referred to herein as the “Credit Facilities”.Effective as of July 1, 2023, borrowings under the Credit Facilities bear interest at the Company’s option at Alternative Base Rate (“ABR”) plus an applicable rate, or at a forward-looking term rate based upon the secured overnight financing rate (“SOFR”), plus (i) (a) with respect to the Term Loan, credit spread adjustments of 0.11448%, 0.26161%, 0.42826% and 0.71513% for interest periods of one, three, six and twelve months, respectively, and