Tailwind Two Acquisition Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-term debt (including accrued interest paid-in-kind) as of the presented periods was comprised of the following:


(in thousands)					December 31,
Description	Issued	Maturity	Interest Rate	Interest Payable	2023	2022
Francisco Partners Facility	November 2021	April 2026	9.25%	Quarterly	$120,023	$120,023
Lockheed Martin Rollover Debt	March 2021	April 2026	9.25%	Quarterly	25,000	25,000
Beach Point Rollover Debt	March 2021	April 2026	11.25%	Quarterly	32,380	31,741
Convertible Notes due 2027	October 2022	October 2027	10.00%	Quarterly	112,251	101,699
PIPE Investment Obligation	March 2022	December 2025	N/A	N/A	16,875	22,500
Equipment financings(1)					2,287	859
Finance leases(2)					4,988	411
Unamortized deferred issuance costs					(2,664)	(3,073)
Unamortized discount on debt					(128,367)	(148,801)
Total debt					182,773	150,359
Current portion of long-term debt					11,740	7,739
Long-term debt					$171,033	$142,620

(1) - Consists of equipment financing debt agreements with maturities through September 2030, annual interest rates ranging from 6.25% to 20.05%, and requiring monthly payments of interest and principal.

(2) - Refer to Note 15 “Leases” for further discussion.

Summary of Aggregate Annual Maturities of Debt

As of December 31, 2023, the aggregate annual maturities of debt, excluding finance leases, were as follows:


(in thousands)
2024	$	9,811
2025		7,981
2026		177,893
2027		112,714
2028		264
Thereafter		153
Total debt maturities		308,816
Less: Unamortized deferred issuance costs		(2,664	)
Less: Unamortized discount on debt		(128,367	)
Plus: Finance leases		4,988
Total debt		182,773
Less: Current maturities of long-term debt		11,740
Long-term debt	$	171,033

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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