Subsequent Events |
12 Months Ended |
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Mar. 31, 2020 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events
In April 2020, as a precautionary measure in order to increase its cash position and preserve financial flexibility in light of current macroeconomic uncertainty resulting from the COVID-19 pandemic, the Company made several draws on its senior secured revolving credit facility resulting in a total of $41,379 (including $3,988 in lines of credit) in outstanding borrowings as of April 30, 2020. The proceeds will be available to be used for working capital, general corporate or other purposes. The maturity date of the loans under the senior secured revolving credit facility is October 28, 2022. After the draw, the Company maintains approximately $18,621 of additional borrowing capacity (subject to the borrowing base) under the senior secured revolving credit facility. As of April 30, 2020, the current interest rate for borrowings under the senior secured revolving credit facility is approximately 2.9%.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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