Company: OFIX
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000950170-25-026066
Chunk: 233

Company: Orthofix Medical Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 233
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        7,152

        Other current liabilities
         
        $
        119,070

        $
        104,908

11.	IndebtednessThe carrying values of the Company’s outstanding debt obligations as of December 31, 2024, and 2023, were as follows:

        December 31,

        (U.S. Dollars, in thousands)
         
        2024

        2023

        Outstanding Term Loans

        Principal amount
         
        $
        160,000

        $
        100,000

        Unamortized original debt discount

        (2,327
        )

        (4,331
        )

        Unamortized debt issuance costs and lenders fees

        (658
        )

        (1,312
        )

        Total indebtedness from outstanding term loans

        157,015

        94,357

        Revolving Credit Facilities

        Principal amount outstanding

        —

        —

        Total indebtedness outstanding
         
        $
        157,015

        $
        94,357

        Current portion of long-term debt
         
        $
        —

        $
        1,250

        Long-term debt

        157,015

        93,107

        Total indebtedness outstanding
         
        $
        157,015

        $
        94,357

      The Company paid cash related to interest of $16.9 million, $5.8 million, and $1.4 million for the years ended December 31, 2024, 2023, and 2022, respectively.Credit AgreementOn November 7, 2024, the Company, as borrower, and its U.S. subsidiaries entered into a $275.0 million secured credit agreement (the "Credit Agreement") with Oxford Finance LLC, as administrative agent and as collateral agent ("Oxford") and certain lenders party thereto, including Oxford, K2 HealthVentures LLC, and HSBC Ventures USA Inc. Certain of the Company’s foreign subsidiaries joined the Credit Agreement as guarantors shortly after the signing date. The Credit Agreement provides for a $160.0 million senior secured term loan (the "Initial Term Loan"), and a $65.0 million senior secured delayed draw term loan facility (the "Term B Loan"). Draws under the Term B Loan are at the Company’s option from January 1, 2025 through June 30,