Company: ONEW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001772921-25-000040
Chunk: 105

Company: OneWater Marine Inc.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 Facility is within one year of the date that these financial statements are issued. The Company is in the process of amending the A&R Credit Facility and expects to modify the maturity date and extend the repayment schedule prior to the filing of the Company's Annual Report for the current fiscal year.The A&R Credit Facility is collateralized by certain real and personal property (including certain capital stock) of the Company and its subsidiaries. The collateral does not include inventory and certain other assets of the Company’s subsidiaries financed under the Inventory Financing Facility. The A&R Credit Facility is subject to certain financial covenants related to the maintenance of a minimum fixed charge coverage ratio, a maximum consolidated leverage ratio and a minimum liquidity measure. The A&R Credit Facility also contains non-financial covenants and restrictive provisions that, among other things, limit the ability of the Company to incur additional debt, transfer or dispose of all of its assets, make certain investments, loans or payments and engage in certain transactions with affiliates. The Company was in compliance with all covenants for the reporting period ended June 30, 2025.Long-term debt consisted of the following at:($ in thousands except monthly payment amounts)June 30, 2025September 30, 2024Term note payable to Truist Bank, secured and bearing interest at 7.55% at June 30, 2025 and 7.85% at September 30, 2024. The note requires quarterly principal payments commencing on December 31, 2022 and maturing with a full repayment on July 31, 2026$375,469 $375,469 Revolving note payable for an amount up to $65.0 million to Truist Bank, secured and bearing interest at 7.53% at June 30, 2025 and 7.75% at September 30, 2024. The note requires full repayment on July 31, 202647,229 51,150 Notes payable to commercial vehicle lenders secured by the value of the vehicles bearing interest at rates ranging from 0.0% to 10.8% per annum. The notes require monthly installment payments of principal and interest ranging from $200 to $3,100 through May 20321,810 2,561 Note payable to Norfolk Marine Company, unsecured and bearing interest at 4.0% per annum. The note was paid in full on December 1, 2024— 1,126