Company: ONEW
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001772921-25-000025
Chunk: 191

Company: OneWater Marine Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 191
---
 2024. 

43

Financing Activities. Net cash provided by financing activities was $63.8 million for the six months ended March 31, 2025 compared to net cash provided by financing activities of $21.4 million for the six months ended March 31, 2024. The $42.4 million increase in financing cash flow was primarily attributable to the $18.8 million payment to purchase the non-controlling interest of Quality Assets & Operations, LLC during the six months ended March 31, 2024 and a $41.6 million decrease in payments on long-term debt, partially offset by a $25.0 million decrease in net borrowings from floor plan during the six months ended March 31, 2025 as compared to the six months ended March 31, 2024.

Share Repurchase Program 

On March 30, 2022 the Board authorized a share repurchase program of up to $50 million of outstanding shares of Class A common stock. Repurchases under the share repurchase program may be made at any time or from time to time, without prior notice, in the open market or in privately negotiated transactions at prevailing market prices, or such other means as will comply with applicable state and federal securities laws and regulations, including the provisions of the Securities Exchange Act of 1934, including Rule 10b5-1 and, to the extent practicable or advisable, Rule 10b-18 thereunder, and consistent with the Company’s contractual limitations and other requirements.  The Company made no share repurchases during the six months ended March 31, 2025. The Company has $48.1 million remaining under the share repurchase program. 

Debt Agreements

A&R Credit Facility 

On August 9, 2022 we entered into the Amended and Restated Credit Agreement (the “A&R Credit Facility”), with certain of our subsidiaries, Truist Bank and the other lenders party thereto. The A&R Credit Facility provides for, among other things, (i) a $65.0 million revolving credit facility (including up to $5.0 million in swingline loans and up to $5.0 million in letters of credit from time to time) and (ii) a $445.0 million term loan facility. Subject to certain conditions, the available amount under the Term Facility and the Revolving Facility may be increased by $125.0 million plus additional amounts subject to additional conditions (including satisfaction of a consolidated