Company: KEQU
Filing Date: 2025-09-12
Form Type: 10-Q
Source: 0000055529-25-000040
Chunk: 20

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-09-12
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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ulated AmortizationNet Book ValueCustomer relationships10 years$9,800 $(490)$9,310 Trade names and trademarksindefinite4,900 — 4,900 Developed technology7 years3,900 (279)3,621 Total$18,600 $(769)$17,831 Expected future amortization expense related to intangible assets, net as of July 31, 2025, excluding trade names and trademarks, are as follows:

($ in thousands)Remainder of fiscal 2026$1,153 20271,537 20281,537 20291,537 20301,537 Thereafter5,246 Total$12,547  

H. Long-term Debt and Other Credit Arrangements

The components of the Company's long-term debt at July 31, 2025 and April 30, 2025, excluding lease, deferred financing costs of $0.8 million and $0.8 million related to the debt at each respective date, and sale-leaseback-related activity, as presented on the Condensed Consolidated Balance Sheet were as follows:($ in thousands)July 31, 2025April 30, 2025PNC Loan Agreement$13,000 $13,750 Seller Notes24,380 23,935 Total long-term debt$37,380 $37,685 Current portion of long-term debt$3,000 $3,000 Non-current portion of long-term debt34,380 34,685 Total long-term debt$37,380 $37,685 See Note J, Leases, for more information on any long-term debt related to the Company's lease portfolio and Note I, Sale-Leaseback Financing Transaction, for more information on any long-term debt related to the Company's sale-leaseback financing transaction.PNC Loan AgreementAs noted in Note C, Nu Aire Acquisition, the Company entered into a Loan Agreement (the “Loan Agreement”) with PNC on November 1, 2024. The loans governed by the Loan Agreement include (i) a $20.0 million committed senior secured revolving line of credit facility (the “Revolving Credit Facility”), which contains an option to increase the facility upon request by the Company and approval by PNC, in its discretion, by an additional $10.0 million; and (ii) a $15.0 million term loan (the “