Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.22.2
Debt (Tables)
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Components of Debt
The components of the Company’s debt consist of the following (in thousands):
June 30, 2022 December 31, 2021
Maturity
Date
Amount Rate Amount Rate
Term loan, net 1/6/2024 $ 4,996  (1) $ 5,414  (2)
Line of credit, net 1/6/2024 7,368  (1) 4,856  (2)
Total debt 12,364  10,270 
Less current portion 1,130  855 
Total long term debt $ 11,234  $ 9,415 
(1)Interest at a variable rate of the daily Federal Funds Rate plus 285 basis points with an interest rate floor of 2.50% per annum.
(2)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 2.50% per annum.