Company: UFPT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001171843-25-005268
Chunk: 25

Company: UFP TECHNOLOGIES INC
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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 drawable as a financial guarantee on worker’s compensation insurance policies. At June 30, 2025, the weighted average interest rate was approximately 5.7% and the Company was in compliance with all covenants under the Third Amended and Restated Credit Agreement.

23

Long-term debt consists of the following (in thousands):

			June 30, 2025

			Revolving credit facility

			$
			48,000

			Term loan

			115,625

			Total long-term debt

			163,625

			Current portion

			(12,500
			)

			Long-term debt, excluding current portion

			$
			151,125

Future maturities of long-term debt at June 30, 2025 are as follows (in thousands):

			Term Loan

			Revolving credit facility

			Total

			Remainder of 2025

			$
			6,250

			$
			-

			$
			6,250

			2026

			12,500

			-

			12,500

			2027

			12,500

			-

			12,500

			2028

			12,500

			-

			12,500

			2029

			71,875

			48,000

			119,875

			$
			115,625

			$
			48,000

			$
			163,625

			(18)

			Subsequent Events

Acquisition of Universal Plastics & Engineering Company, Inc.

On July 2, 2025, the Company purchased 100% of the outstanding membership interests of Universal Plastics & Engineering Company, Inc. (“UNIPEC”) pursuant to a Securities Purchase Agreement, for an aggregate purchase price of $7.5 million in cash. The purchase price was subject to adjustment based upon UNIPEC’s estimated working capital at closing, and further adjustment when the final working capital is determined. A portion of the purchase price is being held in escrow to indemnify the Company against certain claims, losses, and liabilities. The Securities Purchase Agreement contains representations, warranties, and covenants customary for transactions of this type. As part of the Securities Purchase Agreement, the Sellers as well as certain restricted parties have agreed not to compete