Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.22.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Components of debt
The components of the Company’s debt consist of the following (in thousands):
December 31, 2021 December 31, 2020
Amount Rate Maturity
Date		 Amount Rate Maturity
Date
Term loan, net $ 5,414  (1) 1/6/2024 $ 7,826  (2) 1/15/2021
Line of credit, net 4,856  (1) 1/6/2024 5,023  (3) 7/5/2022
November 2019 notes payable, net (November 2019 Notes) —  —  % (4) 2,830  10  % 6/30/2023
December 2019 senior notes payable, net (Senior Seller Notes) —  —  % (4) 10,332  10  % 6/30/2023
December 2019 junior notes payable, net (Junior Seller Notes) —  —  % (4) 4,973  10  % 6/30/2023
ABG Notes —  —  % (4) 687  10  % 6/30/2023
June 2020 notes payable, net (June 2020 Notes) —  —  % (4) 88  10  % 6/30/2023
Halo PPP Loan —  —  % (5) 431  1  % 5/3/2022
TruPet PPP Loan —  —  % (5) 421  0.98  % 4/6/2022
Total debt 10,270  32,611 
Less current portion 855  8,016 
Total long-term debt $ 9,415  $ 24,595 
(1)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 2.50% per annum.
(2)Interest at Bank of Montreal Prime plus 8.05%.
(3)Interest at a variable rate of LIBOR plus 250 basis points with an interest rate floor of 3.25% per annum.
(4)Converted to common stock in connection with the Company's IPO. See "Note 1 - Nature of business and summary of significant accounting policies" for additional information.
(5)The Company's PPP Loans were fully forgiven during 2021. See below for additional information.
Future debt maturities
Future debt maturities as of December 31, 2021 and for succeeding years are as follows (in thousands):
Year ending December 31:
2022 $ 855 
2023 $ 1,435 
2024 $ 7,980 
2025 $ — 
2026 $ — 
Thereafter $ — 
Total $ 10,270