Company: FOACW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001828937-25-000061
Chunk: 130

Company: Finance of America Companies Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 130
---
 15.

In November 2020, Libman Family Holdings, LLC, purchased a portion of the 2025 Unsecured Notes. In October 2024, the related party exchanged all of their 2025 Unsecured Notes for Secured Notes.

69

Working Capital Promissory Notes

The Company has two Revolving Working Capital Promissory Note Agreements (the “Working Capital Promissory Notes”) outstanding with BTO Urban Holdings L.L.C. and Libman Family Holdings, LLC (“LFH”), which are deemed affiliates of the Company. Amounts under the Working Capital Promissory Notes may be re-borrowed and repaid from time to time until the related maturity date. The Working Capital Promissory Notes accrue interest monthly at a rate of 15.0% per annum and mature in August 2025.

The Working Capital Promissory Notes with BTO Urban Holdings L.L.C. and LFH were repaid and terminated in full subsequent to June 30, 2025. On August 4, 2025, FAR entered into an unsecured revolving working capital promissory note with LFH, providing for an uncommitted revolving facility for general corporate and working capital purposes of up to $20.0 million, which was fully drawn on such date. The unsecured revolving working capital promissory note matures on August 4, 2026. Refer to Note 17 - Subsequent Events in the Notes to Condensed Consolidated Financial Statements for additional information.

Contractual Obligations and Commitments

The following table provides a summary of contractual obligations as of June 30, 2025 (in thousands): 

TotalLess than 1 year1 - 3 years3 - 5 yearsMore than 5 yearsContractual cash obligations:Nonrecourse debt$9,738,998 $3,216,018 $4,194,520 $1,100,446 $1,228,014 Warehouse lines of credit572,470 261,184 311,286 — — Other secured lines of credit503,964 25,996 77,460 — 400,508 Notes payable(1)434,955 137,408 150,754 146,793 — Operating leases34,718 5,381 9,401 6,753 13,183 Total$11,285,105 $3,645,987 $4,