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Additionally, the Registration Statement relates to the offer and sale from time to time by the certain selling securityholders, or their permitted transferees of up to an aggregate of 20,000,000 shares of our common stock that were issued to certain investors in a private placement in connection with the closing of the Business Combination. The Company will not receive any proceeds from the sale of shares of common stock by the selling securityholders. However, the Company will pay the expenses, other than underwriting discounts and commissions and certain expenses incurred by the selling securityholders in disposing of the securities, associated with the sale of the securities covered by the Registration Statement.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">On July <div style="letter-spacing: 0px; top: 0px;;display:inline;">10</div>, 2020, the daily VWAP of the Company’s common stock had been greater than $12.00 per share for 20 trading days within a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period triggering the vesting o<div style="letter-spacing: 0px; top: 0px;;display:inline;">f</div> 7,500,000 Contingency Consideration shares and 625,000 <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Earn-out</div> Consideration shares. On July 1<div style="letter-spacing: 0px; top: 0px;;display:inline;">5</div>, 2020, the daily VWAP of the Company’s common stock had been greater than $14.00 per share for 20 trading days within a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period triggering the vesting of<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;">an</div> additional 7,500,000 Contingency Consideration shares and 625,000 <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Earn-out</div> Consideration shares. <div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">On August 1<div style="letter-spacing: 0px; top: 0px;;display:inline;">1</div>, 2020, the daily VWAP of the Company’s common stock had been greater than $16.00 per share for 20 trading days within a 30-trading day period<div style="letter-spacing: 0px; top: 0px;;display:inline;"> triggering <div style="letter-spacing: 0px; top: 0px;;display:inline;">the </div>vesting of</div> <div style="letter-spacing: 0px; top: 0px;;display:inline;">a<div style="letter-spacing: 0px; top: 0px;;display:inline;">n </div></div>additional 7,500,000 Contingency Consideration shares. As a result of the triggering events, </div></div>22,500,000 shares of common stock were issued to Open Lending, LLC unitholders and 1,250,000 shares of common stock were issued to certain Nebula equity holders.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In addition, upon achievement of the daily VWAP milestones of both $12.00 per share and $14.00 per share discussed above, 3,437,500 <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares were released from the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> restrictions and the holders of these shares are no longer restrained from selling and/or transferring the shares.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">1.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Description of Business, Background and Nature of Operations </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Open Lending Corporation (the “Company”), headquartered in Austin, Texas, provides loan analytics, risk-based loan pricing, risk modeling, and automated decision technology for automotive lenders throughout the United States of America which allows each lending institution to book incremental <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-prime</div> automotive loans out of their existing business flow. The Company also operates as a third-party administrator that adjudicates insurance claims and refunds on those automotive loans.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Nebula Acquisition Corporation (“Nebula”), our predecessor, was originally incorporated in Delaware on October 2, 2017 as a special purpose acquisition company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. On June 10, 2020 (the “Closing”), Nebula consummated a business combination (the “Business Combination”) pursuant to that certain Business Combination Agreement, dated as of January 5, 2020 (as amended by that certain Amendment No. 1 and Waiver, dated as of March 18, 2020, that certain Amendment No. 2 and Consent, dated as of March 26, 2020, that certain Amendment No. 3, dated as of May 13, 2020, and that certain amendment No. 4, dated as of June 9, 2020, the “Business Combination Agreement”) by and among Nebula, Open Lending, LLC, a Texas limited liability company, BRP Hold 11, Inc., a Delaware corporation (“Blocker”), the Blocker’s sole stockholder, Nebula Parent Corp., a Delaware Corporation (“ParentCo”), NBLA Merger Sub LLC, a Texas limited liability company, NBLA Merger Sub Corp., a Delaware corporation, and Shareholder Representative Services LLC, a Colorado limited liability company, as the Securityholder Representative. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Immediately upon the completion of the Business Combination and the other transactions contemplated by the Business Combination Agreement (the “Transactions”, and such completion, the “Closing”), Open Lending, LLC became a wholly-owned subsidiary of ParentCo, and, ParentCo changed its name to Open Lending Corporation. The Company is now listed on NASDAQ under the symbol “LPRO”. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Unless the context otherwise requires, “we,” “us,” “our,” “Open Lending,” and the “Company” refers to Open Lending Corporation, the combined company and its subsidiaries following the Business Combination. “Open Lending, LLC” and “Nebula” refers to Open Lending, LLC and Nebula Acquisition Corporation prior to the Closing. Refer to Note 3 for further discussion on the Business Combination. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company has evaluated how it is organized and managed and has identified only one operating segment. All of the Company’s operations and assets are in the United States, and all of its revenues are attributable to United States customers. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
57367000
575000
62951000
28915000
2054000
21505000
52474000
12980000
12980000
21522000
21522000
16252000
1945000
18197000
57050000
684000
4992000
62726000
2017-10-02
0
0
14278603
14278603
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt; vertical-align: top;;text-align:left;;width:4%;"><div style="font-weight:bold;display:inline;">2.</div></td><td style="padding: 0pt; vertical-align: top;;text-align:left;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Summary of Significant Accounting and Reporting Policies and Recent Developments </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following is a summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements. </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">a)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Unaudited <div style="display:inline;">i</div>nterim <div style="display:inline;">f</div>inancial <div style="display:inline;">s</div>tatements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The accompanying consolidated balance sheet as of June 30, 2020, consolidated statements of operations and comprehensive income (loss) and consolidated statements of stockholders’ deficit for the three and six months ended June 30, 2020 and 2019, respectively and consolidated statements of cash flows for the six months ended June 30, 2020 and 2019, respectively, are unaudited. </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">These financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information. However, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, the unaudited consolidated financial statements include all adjustments necessary for the fair presentation of the Company’s balance sheet as of June 30, 2020, and its results of operations, including its comprehensive income (loss), stockholders’ deficit for three and six months ended June 30, 2020 and 2019, respectively, and its cash flows for the six months ended June 30, 2020 and 2019, respectively. The results for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for any subsequent quarter or for the fiscal year ending December 31, 2020. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2020. </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Certain prior year amounts, such as deferred transaction costs, have been reclassified to conform to the June 30, 2020 balance sheet presentation. </div></div></div></div> <div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div> <div style="font-size: 18pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 18pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">b)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Basis of <div style="display:inline;">p</div>resentation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Business Combination is accounted for as a reverse recapitalization as Open Lending, LLC was determined to be the accounting acquirer under Financial Accounting Standards Board’s Accounting Standards Codification Topic 805, Business Combinations (“ASC 805”). The determination is primarily based on the evaluation of the following facts and circumstances: </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt;;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">pre-combination</div> unitholders of Open Lending, LLC hold the majority of voting rights in the Company;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt;;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">pre-combination</div> unitholders of Open Lending, LLC have the right to appoint the majority of the directors of the Company;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">senior management of Open Lending, LLC became the senior management of the Company; and </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">operations of Open Lending, LLC comprise the ongoing operations of the Company. </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In connection with the Business Combination, outstanding units of Open Lending, LLC were converted into common stock of the Company, par value $0.01 per share, representing a recapitalization, and the net assets of Nebula were acquired at historical cost, with no goodwill or intangible assets recorded. Open Lending, LLC was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing (for the year ended December 31, 2019 and the quarter ended March 31, 2020 and 2019) are those of Open Lending, LLC. The shares and corresponding capital amounts and net income (loss) per share available to common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement. The number of Series C preferred units in mezzanine equity was also retroactively restated in shares reflecting the exchange ratio, and the carrying amount of the Series C Preferred Units is based on the fair value of its redemption amount on each reporting date. All Series C Preferred Units were converted to the Company’s common stock on the closing date of the Business Combination. </div></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">c)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Principles of consolidation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The accompanying financial statements include the accounts of the Company and all its subsidiaries that are directly or indirectly owned or controlled by the Company. Intercompany transactions and balances have been eliminated upon consolidation. </div></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">d)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Coronavirus outbreak </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The recent outbreak of the novel coronavirus <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">(“COVID-19”),</div> which was declared a pandemic by the World Health Organization on March 11, 2020 and declared a National Emergency by the President of the United States on March 13, 2020, has led to adverse impacts on the U.S. and global economies and created uncertainty regarding potential impacts on our operating results, financial condition and cash flows. The extent of the impact of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic on our operational and financial performance will depend on certain developments, including the duration and continued spread of the disease, the impact on our revenues which are generated with automobile lenders and insurance company partners and driven by consumer demand for automobiles and automotive loans, extended closures of businesses, rising unemployment and the overall impact on our customer behavior, all of which are uncertain and cannot be predicted. We expect to have a short-term reduction in loan applications and certified loans<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">and potential increased defaults<div style="letter-spacing: 0px; top: 0px;;display:inline;">,</div></div></div> which will impact our revenues and subsequent recovery as the automotive finance industry and overall economy recover. We continue to closely monitor the current macro environment, particularly the impact of the recent <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic on monetary and fiscal policies.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">e)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Emerging growth company </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Company is an “emerging growth company” as defined in Section 2(a)(19) of the Securities Act, as modified by the Jumpstart Our Business Startups Act (“JOBS Act”). As such, the Company is eligible for and intends to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies for as long as it continues to be an emerging growth company, including (i) the exemption from the auditor attestation requirements with respect to internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act, (ii) the exemptions from <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-pay,</div></div> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-frequency</div></div> and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-golden</div></div> parachute voting requirements and (iii) reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Company will remain an emerging growth company until the earliest of (i) the last day of the fiscal year in which the market value of the shares of its common stock that are held by <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-affiliates</div> exceeds $700.0 million as of June 30 of that fiscal year, (ii) the last day of the fiscal year in which it has total annual gross revenue of $1.07 billion or more during such fiscal year, (iii) the date on which it has issued more than $1 billion in <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-convertible</div> debt in the prior three-year period or (iv) the last day of the fiscal year following the fifth anniversary of the date of the first sale of its common stock in its initial public offering.</div> <div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">f)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of estimates and judgements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of consolidated financial statements in conformity with U.S. </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">GAAP</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Significant items subject to such estimates and assumptions include, but are not limited to, the recognition of the valuations of share-based compensation arrangements, valuation of contingent consideration, valuation of interest rate swaps, the useful lives of property and equipment, revenue recognition, and assumptions used in the recognition of contract assets. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">At the end of first quarter 2020, changes in facts and circumstances and general market conditions from the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic resulted in lower expectations of future operating results. The Company considered these circumstances and the potential long-term impact on cash flows and determined that an impact exists for revenue estimation under Accounting Standards Update<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">ASU</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”)</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> </div> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2014-09,</div> Revenue from Contracts with Customers (Topic 606) (“ASC 606”). Accordingly, the Company adjusted its expectation on loan default rate, default severity and prepayment rate to ensure the underlying assumptions in estimating ASC 606 revenue reflects management’s best estimates based on historical experience and current market conditions. Specifically, the Company increased the expected loan default and severity rate and decreased prepayment rate, which yielded a $13.0 million reduction in its contract asset in the first six months of 2020.</div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">g)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Income taxes </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax laws and rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured as the largest amount that is greater than 50% likely of being realized. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company records potential interest and penalties related to an underpayment of income taxes as interest expense and penalties included within operating expenses in the consolidated statements of operations and comprehensive income. </div></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">h)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Recently adopted accounting pronouncements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">On January 1, 2020, we adopted ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-02,</div> Leases<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">Topic 842</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”)<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div>using the alternative modified retrospective transition method and elected practical expedients which allowed us to account for the lease and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-lease</div> components as a single component. In addition, we elected not to reassess whether any expired or existing contracts contain leases, the corresponding lease classification and initial direct costs. The practical expedients were applied across our lease portfolios.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">We recognized operating <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> (“ROU”) asset and lease liabilities for operating leases with initial terms greater than 12 months. ROU assets represent our right to use an asset for the lease term, while lease liabilities represent our obligation to make lease payments. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The adoption Topic 842 did not have a material impact on our consolidated financial statements<div style="font-weight:bold;display:inline;">.</div></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div> <table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">i)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Recently issued accounting pronouncements not yet adopted </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In December 2019, the FASB released ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12,</div> which affects general principles within Topic 740, Income Taxes. The amendments of ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12</div> are meant to simplify and reduce the cost of accounting for income taxes. The amendments in ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12</div> are effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company does not expect adoption of the new standard to have a material impact on its consolidated Financial Statements.</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;">In June 2016, the FASB issued ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-13, Financial</div> Instruments <div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">Topic 326</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”) <div style="letter-spacing: 0px; top: 0px;;display:inline;">- </div></div></div>Credit Losses: Measurement of Credit Losses on Financial Instruments, which provides guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. This ASU will be effective for the Company commencing after December 15, 2022. The Company is in the process of assessing the impact of this ASU on our consolidated financial statements and disclosures.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Although there are several other new accounting pronouncements issued or proposed by the FASB, which we have adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
0.01
10000000
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">8.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Share-Based Compensation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Class B Common Unit Incentive Plan </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Prior to the Business Combination, commencing in 2013, the Board of Managers of Open Lending, LLC approved the Class B Unit Incentive Plan (the “Class B Plan”), which was a form of long-term compensation that provided for the issuance of ownership shares to Service Providers for purposes of retaining them and enabling such individuals to participate in the long-term growth and financial success of Open Lending, LLC. As a result of the Business Combination, the Board of Managers approved an acceleration of the awards granted in connection with the Class B Plan, to allow accelerated vesting of the units at the consummation of the Business Combination. On the date of the Closing, the accelerated vesting for 14,129,158 awards resulted in $2.2 million of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-cash</div> share-based compensation expense recorded to general and administrative expense in the three months ended June 30, 2020.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">2020 Stock Option and Incentive Plan (“2020 Plan”) </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Prior to the closing of the Business Combination, on June 9, 2020, Nebula’s stockholders approved the 2020 Plan. The 2020 Plan provides for the grant of stock options, stock appreciation rights, restricted stock units and other stock or cash-based awards. The Company has initially reserved 9,693,750, approximately 10% of the number of shares of its common stock outstanding upon the closing, as the “Initial Limit” for the issuance of awards under the 2020 Plan. The 2020 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each January 1, beginning on January 1, 2021, by 4% of the outstanding number of shares of the Company’s common stock on the immediately preceding December 31, or the “Annual Increase.” This limit is subject to adjustment in the event of a stock split, stock dividend or other change in the Company’s capitalization. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">There were no grants issued under the 2020 Plan during the three months ended June 30, 2020. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
0.85
0.15
0.01
550000000
88100000
103600000
91849909
91849909
15500000
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37631052
37631052
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<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">12.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Related Party Transactions </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">On March 25, 2020, Ross Jessup, our COO, CFO and Secretary, borrowed $6,000,000 from Open Lending, LLC in accordance with the promissory note in place and the loan was paid in full by Mr. Jessup on March 30, 2020, with proceeds received as result of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-liquidating</div> distribution paid by Open Lending, LLC to its members.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
10-Q
false
2020-06-30
2020
Q2
Non-accelerated Filer
--12-31
false
true
false
true
DE
Yes
Yes
true
89900000
88100000
1900000
false
Common stock, par value $0.01 per share
LPRO
NASDAQ
111539609
The shares and corresponding capital amounts and net income (loss) per share available to common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement.
0001806201
Open Lending Corp
700000000
1070000000
1000000000
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0.50
14129158
2200000
9693750
0.10
0.04
0
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">a)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Unaudited <div style="display:inline;">i</div>nterim <div style="display:inline;">f</div>inancial <div style="display:inline;">s</div>tatements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The accompanying consolidated balance sheet as of June 30, 2020, consolidated statements of operations and comprehensive income (loss) and consolidated statements of stockholders’ deficit for the three and six months ended June 30, 2020 and 2019, respectively and consolidated statements of cash flows for the six months ended June 30, 2020 and 2019, respectively, are unaudited. </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">These financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information. However, they do not include all of the financial information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, the unaudited consolidated financial statements include all adjustments necessary for the fair presentation of the Company’s balance sheet as of June 30, 2020, and its results of operations, including its comprehensive income (loss), stockholders’ deficit for three and six months ended June 30, 2020 and 2019, respectively, and its cash flows for the six months ended June 30, 2020 and 2019, respectively. The results for the three and six months ended June 30, 2020 are not necessarily indicative of the results to be expected for any subsequent quarter or for the fiscal year ending December 31, 2020. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s definitive proxy statement filed with the Securities and Exchange Commission (the “SEC”) on May 22, 2020. </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Certain prior year amounts, such as deferred transaction costs, have been reclassified to conform to the June 30, 2020 balance sheet presentation. </div></div></div></div> <div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">b)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Basis of <div style="display:inline;">p</div>resentation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Business Combination is accounted for as a reverse recapitalization as Open Lending, LLC was determined to be the accounting acquirer under Financial Accounting Standards Board’s Accounting Standards Codification Topic 805, Business Combinations (“ASC 805”). The determination is primarily based on the evaluation of the following facts and circumstances: </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt;;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">pre-combination</div> unitholders of Open Lending, LLC hold the majority of voting rights in the Company;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt;;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">pre-combination</div> unitholders of Open Lending, LLC have the right to appoint the majority of the directors of the Company;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">senior management of Open Lending, LLC became the senior management of the Company; and </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:5%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:3%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">operations of Open Lending, LLC comprise the ongoing operations of the Company. </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In connection with the Business Combination, outstanding units of Open Lending, LLC were converted into common stock of the Company, par value $0.01 per share, representing a recapitalization, and the net assets of Nebula were acquired at historical cost, with no goodwill or intangible assets recorded. Open Lending, LLC was deemed to be the predecessor of the Company, and the consolidated assets and liabilities and results of operations prior to the Closing (for the year ended December 31, 2019 and the quarter ended March 31, 2020 and 2019) are those of Open Lending, LLC. The shares and corresponding capital amounts and net income (loss) per share available to common stockholders, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination Agreement. The number of Series C preferred units in mezzanine equity was also retroactively restated in shares reflecting the exchange ratio, and the carrying amount of the Series C Preferred Units is based on the fair value of its redemption amount on each reporting date. All Series C Preferred Units were converted to the Company’s common stock on the closing date of the Business Combination. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">c)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Principles of consolidation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The accompanying financial statements include the accounts of the Company and all its subsidiaries that are directly or indirectly owned or controlled by the Company. Intercompany transactions and balances have been eliminated upon consolidation. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">d)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Coronavirus outbreak </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The recent outbreak of the novel coronavirus <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">(“COVID-19”),</div> which was declared a pandemic by the World Health Organization on March 11, 2020 and declared a National Emergency by the President of the United States on March 13, 2020, has led to adverse impacts on the U.S. and global economies and created uncertainty regarding potential impacts on our operating results, financial condition and cash flows. The extent of the impact of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic on our operational and financial performance will depend on certain developments, including the duration and continued spread of the disease, the impact on our revenues which are generated with automobile lenders and insurance company partners and driven by consumer demand for automobiles and automotive loans, extended closures of businesses, rising unemployment and the overall impact on our customer behavior, all of which are uncertain and cannot be predicted. We expect to have a short-term reduction in loan applications and certified loans<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">and potential increased defaults<div style="letter-spacing: 0px; top: 0px;;display:inline;">,</div></div></div> which will impact our revenues and subsequent recovery as the automotive finance industry and overall economy recover. We continue to closely monitor the current macro environment, particularly the impact of the recent <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic on monetary and fiscal policies.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">e)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Emerging growth company </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Company is an “emerging growth company” as defined in Section 2(a)(19) of the Securities Act, as modified by the Jumpstart Our Business Startups Act (“JOBS Act”). As such, the Company is eligible for and intends to take advantage of certain exemptions from various reporting requirements applicable to other public companies that are not emerging growth companies for as long as it continues to be an emerging growth company, including (i) the exemption from the auditor attestation requirements with respect to internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act, (ii) the exemptions from <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-pay,</div></div> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-frequency</div></div> and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">say-on-golden</div></div> parachute voting requirements and (iii) reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Company will remain an emerging growth company until the earliest of (i) the last day of the fiscal year in which the market value of the shares of its common stock that are held by <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-affiliates</div> exceeds $700.0 million as of June 30 of that fiscal year, (ii) the last day of the fiscal year in which it has total annual gross revenue of $1.07 billion or more during such fiscal year, (iii) the date on which it has issued more than $1 billion in <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-convertible</div> debt in the prior three-year period or (iv) the last day of the fiscal year following the fifth anniversary of the date of the first sale of its common stock in its initial public offering.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">f)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of estimates and judgements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of consolidated financial statements in conformity with U.S. </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">GAAP</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognized prospectively. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Significant items subject to such estimates and assumptions include, but are not limited to, the recognition of the valuations of share-based compensation arrangements, valuation of contingent consideration, valuation of interest rate swaps, the useful lives of property and equipment, revenue recognition, and assumptions used in the recognition of contract assets. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">At the end of first quarter 2020, changes in facts and circumstances and general market conditions from the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> pandemic resulted in lower expectations of future operating results. The Company considered these circumstances and the potential long-term impact on cash flows and determined that an impact exists for revenue estimation under Accounting Standards Update<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">ASU</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”)</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> </div> <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2014-09,</div> Revenue from Contracts with Customers (Topic 606) (“ASC 606”). Accordingly, the Company adjusted its expectation on loan default rate, default severity and prepayment rate to ensure the underlying assumptions in estimating ASC 606 revenue reflects management’s best estimates based on historical experience and current market conditions. Specifically, the Company increased the expected loan default and severity rate and decreased prepayment rate, which yielded a $13.0 million reduction in its contract asset in the first six months of 2020.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">g)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Income taxes </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company accounts for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax laws and rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured as the largest amount that is greater than 50% likely of being realized. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company records potential interest and penalties related to an underpayment of income taxes as interest expense and penalties included within operating expenses in the consolidated statements of operations and comprehensive income. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">h)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Recently adopted accounting pronouncements </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">On January 1, 2020, we adopted ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-02,</div> Leases<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">Topic 842</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”)<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div>using the alternative modified retrospective transition method and elected practical expedients which allowed us to account for the lease and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-lease</div> components as a single component. In addition, we elected not to reassess whether any expired or existing contracts contain leases, the corresponding lease classification and initial direct costs. The practical expedients were applied across our lease portfolios.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">We recognized operating <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> (“ROU”) asset and lease liabilities for operating leases with initial terms greater than 12 months. ROU assets represent our right to use an asset for the lease term, while lease liabilities represent our obligation to make lease payments. Operating lease ROU assets and liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The adoption Topic 842 did not have a material impact on our consolidated financial statements<div style="font-weight:bold;display:inline;">.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-weight:bold;display:inline;">i)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Recently issued accounting pronouncements not yet adopted </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In December 2019, the FASB released ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12,</div> which affects general principles within Topic 740, Income Taxes. The amendments of ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12</div> are meant to simplify and reduce the cost of accounting for income taxes. The amendments in ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12</div> are effective for public business entities for fiscal years beginning after December 15, 2020, including interim periods therein. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. The Company does not expect adoption of the new standard to have a material impact on its consolidated Financial Statements.</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;">In June 2016, the FASB issued ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-13, Financial</div> Instruments <div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(“</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">Topic 326</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">”) <div style="letter-spacing: 0px; top: 0px;;display:inline;">- </div></div></div>Credit Losses: Measurement of Credit Losses on Financial Instruments, which provides guidance regarding the measurement of credit losses on financial instruments. The new guidance replaces the incurred loss impairment methodology in the current guidance with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to determine credit loss estimates. This ASU will be effective for the Company commencing after December 15, 2022. The Company is in the process of assessing the impact of this ASU on our consolidated financial statements and disclosures.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Although there are several other new accounting pronouncements issued or proposed by the FASB, which we have adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial position or results of operations. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
451000
138000
589000
640000
135000
775000
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">3.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Business Combination </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On June 10, 2020, Nebula consummated a business combination with Open Lending, LLC pursuant to the Business Combination Agreement. Pursuant to ASC 805, for financial accounting and reporting purposes, Open Lending, LLC was deemed the accounting acquirer and Nebula was treated as the accounting acquiree, and the Business Combination was accounted for as a reverse recapitalization. Accordingly, the Business Combination was treated as the equivalent of Open Lending, LLC issuing stock for the net assets of Nebula, accompanied by a recapitalization. Under this method of accounting, the consolidated financial statements of Open Lending, LLC are the historical financial statements of Open Lending Corporation. The net assets of Nebula were stated at historical costs, with no goodwill or other intangible assets recorded in accordance with U.S. GAAP, and are consolidated with Open Lending, LLC’s financial statements on the Closing date. The shares and net income (loss) per share available to holders of the Company’s common stock, prior to the Business Combination, have been retroactively restated as shares reflecting the exchange ratio established in the Business Combination<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Agreement</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As a result of the Business Combination, Open Lending, LLC’s unitholders received aggregate consideration <div style="display:inline;">of</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> approximately</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> $1.0 billion, which consists of (i) $328.8 million in cash at the closing of the Business </div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Combination<div style="letter-spacing: 0px; top: 0px;;display:inline;">, </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">net</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> of transaction expenses</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">, (ii) $135.0 million in cash distribution from debt issued in March 2020, and (iii) 51,909,655 shares of common stock valued at $10.00 per share, totaling $519.1 million. In addition, Open Lending, LLC’s unitholders are entitled to receive additional contingency consideration of up to an aggregate of 22,500,000 shares if the price of the Company’s common stock trading on <div style="letter-spacing: 0px; top: 0px;;display:inline;">the </div>NASDAQ meets certain thresholds following the Business Combination. See Note 6 Contingent Consideration for additional information. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In connection with the Business Combination, the Company incurred direct and incremental costs of approximately $55.5 million related to the equity issuance, consisting primarily of investment banking, legal, accounting and other professional fees, which were recorded to additional <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">paid-in</div> capital as a reduction of proceeds. In addition, the Company incurred $9.1 million in transaction bonuses paid to key employees and directors and $2.2 million in <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-cash</div> share-based compensation expense due to the accelerated vesting of Open Lending, LLC’s legacy share-based compensation plan. The transaction bonuses and share-based compensation are included in general and administrative expense on our consolidated statement of operations<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">and comprehensive income (loss) </div></div> in second quarter 2020. See Note 8 Share-<div style="display:inline;">B</div>ased Compensation for additional information. As of June 30, 2020, we have $1.6 million of accrued transaction costs in accounts payable on our consolidated balance sheet.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; width: 100%; margin: 12pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt; vertical-align: top;;text-align:left;;width:4%;"><div style="font-weight:bold;display:inline;">6.</div></td><td style="padding: 0pt; vertical-align: top;;text-align:left;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Contingent Consideration </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As part of the Business Combination, Open Lending, LLC unitholders and certain Nebula equity holders are entitled to additional consideration in form of shares of the Company’s common stock to be issued when the Company’s common stock price achieves certain market share price milestones within specified periods following the Closing. In addition, the Nebula sponsors are restricted to transfer a portion of their founder shares unless certain market share price targets are achieved within the specified period. As of June 30, 2020, no shares of the<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>contingent<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">consideration<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>had<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>been<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">issued<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="color: rgb(0, 0, 0); font-family: 'times new roman'; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: 0px; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; top: 0px;;display:inline;">or released</div> <div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">from transfer restrictions. Refer to Note 13 Subsequent Events for the events after June 30, 2020 that triggered the issuance the contingent consideration shares. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Pursuant to the guidance under ASC 815, Derivatives and Hedging, the contingent<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">consideration<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>is<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">classified<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>as<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;">a<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div>Level<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>3<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>fair<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>value<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">measurement<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">liability</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">, and the increase or decrease in the fair value is recognized as expense or income in each period accordingly. The fair value of the contingent consideration on each valuation date is estimated using the Monte Carlo simulation of the stock prices based on historical and implied market volatility. For the June 30, 2020 valuation date, management also used historical stock prices over the trading period since the Business Combination date to account for the days that the share price had exceeded the respective target price milestones. On June 10, 2020, the contingency consideration had a fair value of $347.1 million. On June 30, 2020, the contingency consideration shares had a fair value of $395.9 million. The increase in contingent consideration fair value of $48.8 million was recorded as expense in the statements of operations and comprehensive income (loss). </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Founders Shares Subject to Transfer Restrictions </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Immediately following the consummation of the Business Combination, 3,437,500 shares of common stock issued and outstanding held by Nebula Holdings, LLC and its affiliates are subject to transfer restrictions (the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">“Lock-up</div> Shares”). The holder of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares cannot sell, transfer or otherwise dispose of their respective shares until the respective <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> provisions have been achieved as described further below. The <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares have full ownership rights including the right to vote and receive dividends and other distribution thereon. The <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares will be released from the transfer restrictions upon achieving certain market share price milestones as follows:</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">1)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">The 3,437,500 shares will be released from the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> restriction and no longer subject to forfeiture if the daily volume weighted average price (“VWAP”) of the Company’s common stock have been greater than or equal to $12.00 for <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">one-half</div> of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares and $14.00 per share for <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">one-half</div> of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares, respectively, for 20 trading days over a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period at any time within seven years after the Closing.</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">2)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">The <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> shares will be released from the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> restrictions on the date the Company undergoes a change of control as defined in the Business Combination Agreement.</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> shares will be forfeited if the set milestones are not reached within seven years after the Closing.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Contingently Issuable Shares </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Pursuant to the Business Combination Agreement, Open Lending, LLC’s unitholders may receive up to 22,500,000 shares of common stock (the “Contingency Consideration”) contingent upon achieving certain market share price milestones within a period of 42 months post Business Combination. The Company will issue 7,500,000 shares of common stock when each of the following conditions is met, respectively: </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">1)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the VWAP is greater than or equal to $12.00 over any 20 trading days within any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period prior to or as of the 24th month of the Closing;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">2)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the VWAP is greater than or equal to $14.00 over any 20 trading days within any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period prior to or as of the 30th month of the Closing; and</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">3)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the VWAP is greater than or equal to $16.00 over any 20 trading days within any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period prior to or as of the 42nd month of the Closing;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In connection with the Business Combination, certain Nebula’s equity holders will receive up to 1,250,000 <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">earn-out</div> shares of common stock (the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">“Earn-out</div> Consideration”) contingent upon achieving certain market share price milestones within a period of 30 months post Business Combination. The Company will issue 625,000 shares of common stock when each of the following conditions is met, respectively:</div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">1)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the VWAP is greater than or equal to $12.00 over any 20 trading days within any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period prior to or as of the 24th month of the Closing; and</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;">2)</td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">the VWAP is greater than or equal to $14.00 over any 20 trading days within any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">30-trading</div> day period prior to or as of the 30th month of the Closing;</div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Contingency Consideration and the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Earn-out</div> Consideration shares vest immediately in the event of a change of control as defined in the Business Combination Agreement.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
P30D
P30D
-23112000
47537000
-46224000
20000000
10.00
8500000
91849909
3437500
11500000
3437500
20000000
TX
DE
0.01
0.01
10000000
0
0.0650
0
0.0550
The maximum total net leverage ratio begins at 4.75 to 1.0 and then gradually decreases from year-to-year down to 2.5 to 1.0 on or after June 30, 2026.
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">5.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Stockholders’ Deficit </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On June 11, 2020, Open Lending Corporation’s common stock began trading on<div style="letter-spacing: 0px; top: 0px;;display:inline;"> the</div> NASDAQ under the symbol “LPRO”. Pursuant to the terms of the Amended and Restated Certificate of Incorporation, the Company is authorized and has available for issuance the following shares and classes of capital stock, each with a par value of $0.01 per share: (i) 550,000,000 shares of common stock; (ii) 10,000,000 shares of preferred stock. Immediatey following the Business Combination, there were 91,849,909 shares of common stock with a par value of $0.01, and 9,166,659 warrants outstanding. As discussed in Note 3 Business Combination, the Company has retroactively adjusted the shares issued and outstanding prior to June 10, 2020 to give effect to the exchange ratio </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">established in the Business Combination Agreement</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> to determine the number of shares of common stock into which they were converted. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In connection to the Business Combination, on July 1, 2020, the Company filed a Registration Statement on Form <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">S-1</div> to register 52,916,659 shares of common stock for the issuance by the Company of (i) up to an aggregate of 23,750,000 shares of our common stock that may be issued as <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">earn-out</div> consideration upon certain triggering events and (ii) 9,166,659 shares of our common stock that may be issued upon exercise of warrants to purchase common stock at an exercise price of $11.50 per share of common stock, herein referenced as public warrants.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Common stock </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">In conjunction with the Business Combination, Nebula obtained commitments from certain investors (collectively, the “PIPE Investors”) to purchase shares of Nebula Class A common stock, which were converted into 20,000,000 Private Investment in Public Entity (“PIPE”) shares for a purchase price of $10.00 per share. Of the 20,000,000 PIPE shares, 11,500,000 shares are held by other institutional investors and 8,500,000 shares are held by Nebula Holdings, LLC<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">and its affiliates</div></div>. At the Closing and as of June 30, 2020, the Company had 91,849,909 shares of common stock outstanding, which excludes 3,437,500 shares issued and outstanding that are subject to certain <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">lock-up</div> and forfeiture arrangements pursuant to the Founder Support Agreement, dated as of January 5, 2020 (as amended by that certain Amendment No.1, dated March 18, 2020, and that certain Amendment No.2, dated May 13, 2020), by and among Nebula, ParentCo, Open Lending, LLC, Nebula Holdings, LLC, Adam H. Clammer, James H. Greene, Jr ., Rufina Adams, David Kerko, Frank Kern, James C. Hale and Ronald Lamb. The following summarizes the Company’s common stock outstanding immediately after the Business Combination: </div><div style="line-height: 8pt; font-size: 8pt;"> </div><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:76%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:81%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:3%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:3%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="border-bottom: 1pt solid rgb(0, 0, 0); padding: 0pt;;text-align:center;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Shares</div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="border-bottom: 1pt solid rgb(0, 0, 0); padding: 0pt;;text-align:center;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">%</div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Open Lending, LLC unitholders</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">51,909,655</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">56</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Public stockholders</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">16,502,754</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">18</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Nebula Holdings, LLC and its affiliates</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">11,937,500</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">13</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">PIPE Investors</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">11,500,000</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">13</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">% </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">91,849,909</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">100</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">% </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div> <div style="font-size: 1px; margin-top: 18px; margin-bottom: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-size: 10pt; letter-spacing: 0px;;font-style:italic;display:inline;;font-style:italic;display:inline;">Preferred Stock</div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As of December 31, 2019, Open Lending, LLC had 29,058,266 shares of no par value Series A and Series B preferred units outstanding and 21,906,852 shares of redeemable convertible Series C preferred units, all of which were convertible on a 1:1 basis with Open Lending, LLC common units. Upon the Closing, the preferred units outstanding were converted into common stock of the Company<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">at the exchange rate established in the Business Combination Agreement</div></div><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">, par value $0.01 per share.</div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Public Warrants </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Upon the Closing, there are 9,166,659 outstanding public warrants to purchase shares of the Company’s common stock that were issued by Nebula with other consideration prior to the <div style="letter-spacing: 0px; top: 0px;;display:inline;">B</div>usiness <div style="letter-spacing: 0px; top: 0px;;display:inline;">C</div>ombination. The warrants will expire on June 10, 2025, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Each whole warrant entitles the holder to purchase one whole share of the Company’s common stock at a price of $11.50 per share, subject to adjustments. The warrants are exercisable 30 days after the completion of the <div style="letter-spacing: 0px; top: 0px;;display:inline;">B</div>usiness <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">C</div></div>ombination. Once the public warrants become exercisable, the Company may redeem the outstanding warrants in whole and not in part at a price of $0.01 per warrant upon a minimum of 30 days’ prior written notice of redemption, if and only if the last sale price of the Company’s common stock equals or exceeds $18.00 per share for any <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">20-</div> trading days within <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">a 30-trading day</div> period ending on the third trading day prior to the date on which the Company sent the notice of redemption to the warrant holders.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Dividend </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Any decision to declare and pay dividends in the future will be made at the sole discretion of Open Lending Corporation’s Board of Directors and will depend on, among other things, results of operations, cash requirements, financial condition, contractual restrictions and other factors that Open Lending Corporation’s Board of Directors may deem relevant. In addition, the Company’s ability to pay dividends will be limited by covenants in its existing indebtedness and may be limited by the agreements governing other indebtedness that it or its subsidiaries incur in the future. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
51909655
0.56
16502754
0.18
11937500
0.13
11500000
0.13
1.00
214000
The following summarizes the Company’s common stock outstanding immediately after the Business Combination: <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><table border="0" cellpadding="0" cellspacing="0" style="font-family: 'times new roman'; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:76%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:81%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:3%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:3%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="border-bottom: 1pt solid rgb(0, 0, 0); padding: 0pt;;text-align:center;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Shares</div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="border-bottom: 1pt solid rgb(0, 0, 0); padding: 0pt;;text-align:center;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">%</div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Open Lending, LLC unitholders</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">51,909,655</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">56</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Public stockholders</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">16,502,754</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">18</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Nebula Holdings, LLC and its affiliates</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">11,937,500</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">13</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">% </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">PIPE Investors</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">11,500,000</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">13</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">% </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">91,849,909</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">100</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">% </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; width: 100%; margin: 18pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt; vertical-align: top;;text-align:left;;width:4%;"><div style="font-weight:bold;display:inline;">13.</div></td><td style="padding: 0pt; vertical-align: top;;text-align:left;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Tax Receivable Agreement </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In connection with the Closing, the Company entered into <div style="letter-spacing: 0px; top: 0px;;display:inline;">the</div> Tax Receivable Agreement. The Tax Receivable Agreement generally provides for the payment by the Company to the Open Lending LLC unitholders and Blocker’s sole shareholder (the “TRA holders”), as applicable, of 85% of the net cash savings, if any, in U.S. federal, state and local income tax that the Company actually realizes (or are deemed to realize in certain circumstances) in periods after the Closing as a result of: (i) certain tax attributes of Blocker and/or Open Lending, LLC that existed prior to the Business Combination and were attributable to the Blocker; (ii) certain increases in the tax basis of Open Lending, LLC’s assets resulting from the Transactions; (iii) imputed interest deemed to be paid by the Company as a result of payments the Company makes under the Tax Receivable Agreement; and (iv) certain increases in tax basis resulting from payments the Company makes under the Tax Receivable Agreement. The Company will retain the benefit of the remaining 15% of these cash savings. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The liability recognized for the Tax Receivable Agreement was $88.1 million and is classified as other long-term liabilities on our consolidated balance sheet and the deferred tax asset was $103.6 million, which has been recognized due to the increase in tax basis and certain tax benefits attributable to imputed interest. The Company expects to benefit from the remaining 15% of cash savings, if any, realized. The excess of the deferred tax asset over the Tax Receivable Agreement liability <div style="letter-spacing: 0px; top: 0px;;display:inline;">is</div> $ 15.5 million<div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="background-color:#ffffff;;display:inline;">, and netted by other deferrals of $</div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="background-color:#ffffff;;display:inline;">13.6</div></div><div style="background-color:#ffffff;;display:inline;"> million, the Company</div></div></div><div style="background-color:#ffffff;;display:inline;"> recorded </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="background-color:#ffffff;;display:inline;">a net tax impact of $</div><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="background-color:#ffffff;;display:inline;">1.9</div></div><div style="background-color:#ffffff;;display:inline;"> million</div> </div></div>to additional <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">paid-in</div> capital.</div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
0.0750
1900000
13600000
16.00
7500000
103266000
12438000
0
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">7.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Revenue </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company accounts for a contract with a customer when both parties have approved the contract and are committed to perform their respective obligations, each party’s rights and payment terms can be identified, the contract has commercial substance, and it is probable the Company will collect substantially all of the consideration it is entitled to. Revenue is recognized when, or as, performance obligations are satisfied by transferring control of a promised product or service to a customer. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Performance Obligations </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company generates revenue primarily by providing services to lending institutions and insurance carriers. The following is a description of the principle activities from which the Company generates revenue. </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"><div style="font-style:italic;display:inline;"> </div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-style:italic;display:inline;">1)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-style:italic;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Revenue from contracts with lending institutions </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;">Program fees are derived from contracts with automotive lenders. Through the Company’s proprietary Lenders Protection Program (“LPP”), we enable automotive lenders to make loans that are insured against certain credit losses from defaults. The Company generates program fee revenue from our proprietary, cloud-based software platform that enables automotive lenders, OEM captive finance companies and other financial institutions (collectively “lending institutions”) to approve loans to traditionally underserved <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-prime</div> or near-prime borrowers.</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company receives program fees for providing loan decision-making analytics solutions and automated issuance of credit default insurance with third-party insurance providers. The Company’s performance obligation is complete when a loan is certified through the Company’s Lenders Protection program and is issued by the lending institution. Program fee contracts contain a single performance obligation, which consist of a series of distinct services that are substantially the same with the same pattern of transfer to customers. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Program fees are based on a percentage of the initial principal amount of the loans processed by the Company. There are two types of payment arrangements: 1) a single pay program fee is due based on the volume of loans originated by the lending institution in a calendar month; or 2) a monthly pay program fee is due in equal monthly installments within 12 months of loan origination. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">We bill the customer for an amount calculated based on the actual number of loans processed in a calendar month, which corresponds directly with the value of service transferred to the customer in that month. </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; table-layout: fixed;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:4%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:5%;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">2)</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Revenue from customer with insurance carriers </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">We have producer agreements with two insurance carriers, AmTrust Financial Services, Inc. (“AmTrust”) and CNA Financial Corporation (“CNA”), from which we earn profit-share revenue and claims administration service fees. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In the profit share arrangement, the Company facilitates placement of credit default insurance policies with lending institutions on behalf of our insurance partners. Profit share revenue represents our participation in the underwriting profit of our third-party insurance partners who provide lenders with credit default insurance on loans the automotive lenders make using our LPP. We receive a percentage of the aggregate monthly insurance underwriting profit. Monthly insurance underwriting profit is calculated as the monthly earned premium less expenses and losses (including reserves for incurred but not reported losses), with losses accrued and carried forward for future profit share calculations. The Company fulfills its performance obligation upon placement of the insurance, at which point the Company is entitled to the profit share of all future net premiums earned by the insurance carrier on the policy. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">To determine the profit share revenue, we use forecasts of loan-level earned premium and insurance claim payments. These forecasts are driven by the projection of loan defaults, prepayments and severity rates. These assumptions are based on our observations of the historical behavior for loans with similar risk characteristics. The assumptions also take consideration of the forecast adjustments under various macroeconomic conditions and the current mix of the underlying portfolio of our insurance partners. To the extent these assumptions change, our profit share revenue will be adjusted. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">In accordance with ASC 606, Revenue from Contracts with Customers, at the time of the placement of a policy by an insurance company, we estimate the variable consideration based on undiscounted expected future profit share to be received from the insurance carriers, and we applied economic stress factors in our forecast to constraint our estimation of transaction price to an amount. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Claims administration service fees are generated from us acting as a third-party administrator to process and adjudicate the credit default insurance claims on behalf of the insurance companies. In this arrangement, the performance obligation to provide claims administration services is generally satisfied over time, with the customer simultaneously receiving and consuming the benefits as we satisfy our performance obligations. </div></div><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%; line-height: 12pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Contract Balances </div></div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company has no contract liabilities. Contract asset balances for the periods indicated below are as follows: </div></div><div style="font-size: 1px; margin-top: 12px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 62%;"></td><td style="padding: 0pt; width: 5%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="14" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Contract Asset</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Profit Share</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">TPA Fee</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Program<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>Fee</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Total</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Ending balance as of December 31, 2019</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">57,367</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">575</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255); text-align: right;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;"> 5,009</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">62,951</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Increase of contract asset due to new business generation</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >28,915</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,054</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >21,505</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >52,474</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Adjustment of contract asset due to estimation of revenue from performance obligations satisfied in previous periods</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(12,980</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(12,980</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Receivables transferred from contract assets upon billing the lending institutions</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(21,522</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(21,522</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Payments received from insurance carriers</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(16,252</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(1,945</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(18,197</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 62%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Ending balance of June 30, 2020</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">57,050</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">684</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">4,992</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">62,726</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company has no contract liabilities. Contract asset balances for the periods indicated below are as follows: </div></div><div style="font-size: 1px; margin-top: 12px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 62%;"></td><td style="padding: 0pt; width: 5%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="14" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Contract Asset</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Profit Share</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">TPA Fee</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Program<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>Fee</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Total</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Ending balance as of December 31, 2019</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">57,367</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">575</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255); text-align: right;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;"> 5,009</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">62,951</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Increase of contract asset due to new business generation</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >28,915</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,054</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >21,505</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >52,474</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Adjustment of contract asset due to estimation of revenue from performance obligations satisfied in previous periods</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(12,980</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(12,980</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Receivables transferred from contract assets upon billing the lending institutions</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(21,522</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(21,522</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 62%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Payments received from insurance carriers</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(16,252</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(1,945</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(18,197</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 62%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 62%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Ending balance of June 30, 2020</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 5%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">57,050</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">684</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">4,992</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">62,726</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Income tax expense from continuing operations is summarized as follows (in thousands): </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="padding: 0pt; font-family: "times new roman";;width:61%;"></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:33%;"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">For the Six Months Ended June 30, 2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Current:</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Federal</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >451</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">State</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >138</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Total current tax expense (benefit)</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >589</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Deferred:</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Federal</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >640</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">State</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >135</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Total deferred tax (benefit)</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >775</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Total income tax expense (benefit)</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">1,364</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">11.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Income Taxes </div></div></div></td></tr></table><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Income tax expense from continuing operations is summarized as follows (in thousands): </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="padding: 0pt; font-family: "times new roman";;width:61%;"></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:33%;"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">For the Six Months Ended June 30, 2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Current:</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Federal</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >451</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">State</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >138</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Total current tax expense (benefit)</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >589</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Deferred:</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Federal</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >640</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">State</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >135</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Total deferred tax (benefit)</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >775</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Total income tax expense (benefit)</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">1,364</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes.</div></div> <div style="font-family: "times new roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; line-height: 12pt;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The tax effect of temporary differences giving rise to the Company’s net deferred tax assets (liabilities) </div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">o<div style="letter-spacing: 0px; top: 0px;;display:inline;">n</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> June </div>30<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">, </div>2020<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> is as follows:</div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="padding: 0pt; font-family: "times new roman"; width: 82%;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 10%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">At June 30, 2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Deferred tax assets:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt; background-color: rgba(255, 255, 255, 0);;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Professional fees capitalized</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 10%; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >40</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Deferred rent</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >11</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Tax Receivable Agreement </div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); border-bottom: 0.75pt solid black;;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); border-bottom: 0.75pt solid black;;text-align:right;;vertical-align:bottom;" >103,266</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Gross deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">103,317</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Valuation allowance</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;"><div style="margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);"><div style="text-align: right; line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">103,317</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Deferred tax liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Depreciation & amortization</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(87</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Interest rate swap</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >(21</td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Investment in Lenders Protection, LLC</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(1,594</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Revenue recognition</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >(12,438</td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">) </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Gross deferred tax liabilities</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">(14,140</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">) </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">89,177</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; line-height: 12pt;">Net deferred tax assets totaling $89.9 million were recorded as of June 10, 2020 in relation to the Business Combination, of which $88.1 million was recorded to other long-term liabilities to reflect the Company’s estimated liability associated with the Tax Receivable Agreement, dated June 10, 2020, by and among Nebula, the Blocker, Blocker’s sole shareholder, and Open Lending, LLC and the excess amount of $1.9 million was recorded to additional <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">paid-in-capital.</div></div></div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">As of June 30, 2020, the Company has assessed whether it is more likely than not that our deferred tax assets will be realized. In making this determination, the Company considers all available positive and negative evidence and makes certain assumptions. The Company considers, among other things, the reversal of its deferred tax liabilities, the overall business environment, its historical earnings and losses, current industry trends and its outlook for future years. The Company believes it is <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">more-likely-than-not</div> all deferred tax assets will be realized and has not recorded any valuation allowance as of June 30, 2020. </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">On March 27, 2020, the President of the United States signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), an economic stimulus package in response to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">COVID-19</div> global pandemic. The CARES Act contains several corporate income tax provisions intended to provide relief to taxpayers, most substantial of which relate to temporary net operating loss (“NOL”) carryback periods, temporary reductions in the limitation of business interest expense deductions, employee retention tax credits, and payroll tax relief, among other changes. As the Company is a recently established <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">C-corporation,</div> there are no NOLs available for carryback. The Company also does not expect to be limited in amount of deductible business interest expense. As of June 30, 2020, the Company does not anticipate tax benefits related to the CARES <div style="letter-spacing: 0px; top: 0px;;display:inline;">Act </div>provisions and has therefore recorded no benefits related to the stimulus package. </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Management of the Company has evaluated the aggregate exposure for uncertain tax positions for all open tax years and concluded that the Company and its predecessor has no material uncertain tax positions as of June 30, 2020 or for any open tax years. Tax penalties and interest, if any, would be reflected in the condensed consolidated statements of operations and comprehensive income in other expenses. The Company has not recorded any penalties or interest related to uncertain tax positions as of June 30, 2020 or for any open tax years.</div></div></div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: "times new roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; line-height: 12pt;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The tax effect of temporary differences giving rise to the Company’s net deferred tax assets (liabilities) </div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">o<div style="letter-spacing: 0px; top: 0px;;display:inline;">n</div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> June </div>30<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">, </div>2020<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"> is as follows:</div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="padding: 0pt; font-family: "times new roman"; width: 82%;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 10%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td><td style="padding: 0pt; font-family: "times new roman";"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">At June 30, 2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Deferred tax assets:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt; background-color: rgba(255, 255, 255, 0);;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Professional fees capitalized</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 10%; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >40</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Deferred rent</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >11</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Tax Receivable Agreement </div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); border-bottom: 0.75pt solid black;;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); border-bottom: 0.75pt solid black;;text-align:right;;vertical-align:bottom;" >103,266</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Gross deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">103,317</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Valuation allowance</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;"><div style="margin-bottom: 0px; margin-top: 0px; line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);"><div style="text-align: right; line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="line-height: normal;"><div style="font-weight:bold;display:inline;width:100%;"> </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">103,317</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Deferred tax liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Depreciation & amortization</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(87</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Interest rate swap</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >(21</td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Investment in Lenders Protection, LLC</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(1,594</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="font-size: 10pt; line-height: 115%; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px;;display:inline;">Revenue recognition</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" >(12,438</td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;">) </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Gross deferred tax liabilities</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">(14,140</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">) </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 5em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net deferred tax assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">$</div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">89,177</div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 82%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0); width: 10%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgba(255, 255, 255, 0);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgba(255, 255, 255, 0);"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; width: 100%; margin: 12pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt; vertical-align: top;;text-align:left;;width:4%;"><div style="font-weight:bold;display:inline;">9.</div></td><td style="padding: 0pt; vertical-align: top;;text-align:left;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Net Income (Loss) per Share </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Pursuant to the Restated and Amended Certificate of Incorporation and as a result of the reverse recapitalization, the Company has retrospectively adjusted the weighted average shares outstanding prior to June 10, 2020 to give effect to the exchange ratio used to determine the number of shares of common stock into which they were converted. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include stock purchase warrants and contingently issuable shares attributable to the contingency consideration and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">earn-out</div> consideration.</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the three and six months ended June 30, 2020, and 2019 (in thousands, except per share amounts): </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:55%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"><div style="font-style:italic;display:inline;"><div style="display:inline;">(<div style="display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Three Months Ended June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Six Months Ended June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="text-decoration:underline;display:inline;">Basic net income (loss) per share:</div></div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Numerator</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss)</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(49,805</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >17,484</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(41,633</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >30,388</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Preferred distribution to redeemable convertible preferred units</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(214</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">)</div> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(1,689</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(40,689</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(4,182</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.43in; line-height: normal; text-indent: -0.17in;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Non-cash</div> adjustment to redemption amount of the redeemable convertible preferred units</div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(23,112</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >47,537</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(46,224</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss) attributable to common unitholders</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(50,019</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(7,317</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(34,785</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(20,018</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Denominator</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Basic weighted-average common shares</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >49,547,284</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >37,631,052</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >43,589,168</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >37,631,052</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.17in; line-height: normal; text-indent: -0.17in;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Basic net<div style="letter-spacing: 0px; top: 0px;;display:inline;"> inc<div style="letter-spacing: 0px; top: 0px;;display:inline;">ome</div></div> (loss) per share attributable to common stockholders</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(1.01</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.19</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.80</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.53</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%;">Warrants to purchase 9,166,659 shares of common stock at $11.50 per share were issued during Nebula’s initial public offering, and no such warrants were exercisable or exercised<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">during</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> the presented periods. The warrants </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">were excluded from the basic and diluted net income (loss) per share as they were</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> anti-dilutive </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">given the Company had a net loss for</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> the three and six months ended </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">June 30, 2020</div>. In addition, the Company has not included the effect of 23,750,000 contingency consideration and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">earn-out</div> shares in the calculation basic and diluted net income (loss) for the presented periods. The conditions for the issuance of these shares are based on the volume of weighted average closing stock price of the Company’s common stock, and these conditions had not been met as of June 30, 2020.</div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">Open Lending, LLC’s legacy redeemable and convertible Series C preferred units were outstanding </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">in mezzanine equity </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">during January 1, 2020 through June </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">9</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">, 2020</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> and were </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">retroactively restated in shares reflecting the exchange ratio as established in the Business Combination Agreement. All Series C preferred units were </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">converted at a conversion rate of </div> 1:1 to the Company’s Common Stock on June 10, 2020. <div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Therefore, the</div></div> Series C preferred units were excluded from the basic net income (loss) per share <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">calculation </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">for the period </div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;">prior to June 10, 2020</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">, and they were excluded from the diluted net income (loss) per share</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> considering their anti-dilutive impact</div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> by adjusting net income (loss) attributable to common unitholders with preferred distribution and non-cash adjustment to the redemption amount. </div></div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following potentially dilutive outstanding securities for the three and six months ended June 30, 2020 and 2019 were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the respective period presented. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 68%;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;"><div style="display:inline;">(<div style="display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Three Months Ended<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); white-space: nowrap;;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Six Months Ended<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Redeemable stock warrants</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9,167</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9,167</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Contingency consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >27,188</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >27,188</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Retroactively restated Series C preferred units</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 68%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 68%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">50,634</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">14,279</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">50,634</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">14,279</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 68%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div><div style="font-size: 1px;margin-top: 12px;margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;">The Company’s <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">pre-merger</div> LLC membership structure included several different types of LLC interests including ownership interests and profits interests. The Company analyzed the calculation of earnings per unit by using the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">two-class</div> method for the periods ended in 2019 and determined that it resulted in values that would not be comparable to the same periods in 2020 and therefore it is not meaningful to the users of these consolidated financial statements. Therefore, the Open Lending, LLC’s net income (loss) per share information has not been presented for any period.</div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the three and six months ended June 30, 2020, and 2019 (in thousands, except per share amounts): </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:55%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:5%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"><div style="font-style:italic;display:inline;"><div style="display:inline;">(<div style="display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Three Months Ended June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Six Months Ended June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="text-decoration:underline;display:inline;">Basic net income (loss) per share:</div></div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Numerator</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss)</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(49,805</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >17,484</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(41,633</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >30,388</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Preferred distribution to redeemable convertible preferred units</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(214</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">)</div> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(1,689</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(40,689</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(4,182</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.43in; line-height: normal; text-indent: -0.17in;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Non-cash</div> adjustment to redemption amount of the redeemable convertible preferred units</div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(23,112</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >47,537</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >(46,224</td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Net income (loss) attributable to common unitholders</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(50,019</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(7,317</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(34,785</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(20,018</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Denominator</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.26in; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Basic weighted-average common shares</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >49,547,284</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >37,631,052</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >43,589,168</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >37,631,052</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.17in; line-height: normal; text-indent: -0.17in;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Basic net<div style="letter-spacing: 0px; top: 0px;;display:inline;"> inc<div style="letter-spacing: 0px; top: 0px;;display:inline;">ome</div></div> (loss) per share attributable to common stockholders</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(1.01</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.19</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.80</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >(0.53</td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">) </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following potentially dilutive outstanding securities for the three and six months ended June 30, 2020 and 2019 were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the respective period presented. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 68%;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;"><div style="display:inline;">(<div style="display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Three Months Ended<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); white-space: nowrap;;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Six Months Ended<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>June 30,</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Redeemable stock warrants</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9,167</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9,167</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Contingency consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >27,188</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >27,188</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 68%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Retroactively restated Series C preferred units</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >14,279</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 68%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 68%;;vertical-align:bottom;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">50,634</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">14,279</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">50,634</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="font-weight:bold;display:inline;">14,279</div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;"> </div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 68%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px; width: 100%; margin: 12pt auto 0in 0px;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt; vertical-align: top;;text-align:left;;width:4%;"><div style="font-weight:bold;display:inline;">10.</div></td><td style="padding: 0pt; vertical-align: top;;text-align:left;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Fair Value of Financial Instruments </div></div></div></td></tr></table><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments <div style="letter-spacing: 0px; top: 0px;;display:inline;">on</div> June 30, 2020 and December 31, 2019. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:53%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"><div style="font-style:italic;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(<div style="letter-spacing: 0px; top: 0px;;display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Quarter Ended June 30, 2020</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Year Ended December 31, 2019</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Carrying Amount</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Fair Value</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Carrying Amount</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Fair Value</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Financial assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Cash and cash equivalents</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >26,252</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >26,252</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >7,676</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >7,676</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Restricted cash</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,412</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,412</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,222</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,222</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Accounts receivable</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,193</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,193</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,767</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,767</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Interest Rate Swaps (Other assets)</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >31,857</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" > 31,857</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >13,674</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >13,674</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Financial liabilities</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Accounts payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,086</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,086</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >1,337</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >1,337</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Accrued expenses</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;">924</div></td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >924</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,006</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,006</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Income tax payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);" ><div style="text-align: right; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;;display:inline;">569</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);" ><div style="text-align: right; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;;display:inline;">569</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);"><div style="text-align: right; line-height: normal;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);"><div style="text-align: right; line-height: normal;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Estimated fair value of contingent consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >560,061</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 560,061</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 6,656</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 6,656</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The fair value of the financial instruments shown in the table above as of June 30, 2020 and December 31, 2019 represent the amounts that would be received to sell those assets or that would be paid to transfer those liabilities in an orderly transaction between the market participants at that date. Those fair value measurements maximize the use of observable and unobservable inputs. However, in situations where there is little, if any, market activity for the asset or liability at the measurement date, the fair value measurement reflects the Company’s own judgments about the assumptions that market participants would use in pricing asset or liability. Those judgments are developed by the Company based on the best information available in the circumstances, including expected cash flows and appropriately risk-adjusted discount rates, available observable and unobservable inputs. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following methods and assumptions were used to estimate the fair value of each class of financial instruments:      </div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:10%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:2%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued expenses. The carrying amounts, at face value or cost-plus accrued interest, approximate fair value because of the short maturity of these instruments. </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:10%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:2%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Interest rate swaps: The fair value is calculated as the present value of the estimated future cash flows. Estimates of future floating-rate cash flows are based on quoted swap rates, futures prices and interbank borrowing rates. Estimated cash flows are discounted using a yield curve constructed using a yield curve constructed from similar sources and which reflects the relevant benchmark interbank rate used by market participants for this purpose when pricing interest rate swaps. The fair value estimate is subject to a credit risk adjustment that reflects the credit risk of the Company and of the counterparty; this is calculated based on credit spreads derived from current credit default swap or bond prices. The Company’s interest rate swap was settled in March of 2020. </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:10%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:2%;">•</td><td style="padding: 0pt;;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;">Estimated fair value of contingent consideration: Contingent consideration represents the future potential issuance of the Company’s common stock related to the Contingency Consideration, <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Earn-out</div> Consideration and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">Lock-up</div> Shares tendered in connection with the Business Combination on June 10, 2020. The fair value of contingent consideration is based on a Monte Carlo simulation of the Company’s common stock as compared to certain market share price milestones, and is primarily based on our peer group volatility due to our limited history, as well as, the Company’s future implied volatility, a significant unobservable input. The change in the estimated fair value of contingent consideration was driven by difference in fair value <div style="letter-spacing: 0px; top: 0px;;display:inline;">o<div style="letter-spacing: 0px; top: 0px;;display:inline;">n</div></div> June 10, 2020 as compared to fair value <div style="letter-spacing: 0px; top: 0px;;display:inline;">on</div> June 30, 2020.        </div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;width:10%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:2%;">•</td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:top;;width:1%;"> </td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Notes payable: the carrying amount of the Company’s debt approximates its fair value due to its variable interest rate that is tied to the current LIBOR rate plus an applicable spread and consistency in our credit ratings. </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: "times new roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%; line-height: 12pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Fair Value Hierarchy </div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis (including items that are required to be measured at fair value) at June 30, 2020 and December 31, 2019. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 67%;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td colspan="4" style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="10" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Fair value measurements at<br/>reporting date using</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">June 30,<br/>2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 1</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 2</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 3</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Contingent consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td><div style="display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 67%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >555,482</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 67%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 70%;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td colspan="4" style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="10" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Fair value measurements at<br/>reporting date using</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">December 31,<br/>2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 1</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 2</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 3</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Assets:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Interest rate swaps</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;"> —  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company’s accounting policy is to recognize transfers between levels of the fair value hierarchy on the date of the event or change in circumstances that caused the transfer. There were no transfers into or out of any level for the periods ended June 30, 2020 and December 31, 2019. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company does not have any long-lived asset which is being measured at fair value on a recurring basis. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments <div style="letter-spacing: 0px; top: 0px;;display:inline;">on</div> June 30, 2020 and December 31, 2019. Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:53%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"><div style="font-style:italic;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(<div style="letter-spacing: 0px; top: 0px;;display:inline;">in thousands</div>)</div></div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Quarter Ended June 30, 2020</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;">  </td><td colspan="6" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Year Ended December 31, 2019</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Carrying Amount</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Fair Value</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Carrying Amount</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">Fair Value</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Financial assets</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Cash and cash equivalents</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >26,252</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >26,252</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >7,676</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >7,676</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Restricted cash</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,412</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,412</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,222</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >2,222</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Accounts receivable</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,193</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,193</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,767</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,767</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Interest Rate Swaps (Other assets)</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >31,857</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" > 31,857</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >13,674</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >13,674</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Financial liabilities</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Accounts payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,086</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,086</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >1,337</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >1,337</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Accrued expenses</div></div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;">924</div></td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >924</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,006</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >2,006</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Income tax payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);" ><div style="text-align: right; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;;display:inline;">569</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);" ><div style="text-align: right; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;;display:inline;">569</div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);"><div style="text-align: right; line-height: normal;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);"><div style="text-align: right; line-height: normal;"> —<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="line-height: normal;"> </div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Estimated fair value of contingent consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(255, 255, 255);;text-align:right;;vertical-align:bottom;" >—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >560,061</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 560,061</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 6,656</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" > 6,656</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(255, 255, 255);;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(255, 255, 255);"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The following table presents the placement in the fair value hierarchy of assets and liabilities that are measured at fair value on a recurring basis (including items that are required to be measured at fair value) at June 30, 2020 and December 31, 2019. </div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 67%;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 3%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td colspan="4" style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="10" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Fair value measurements at<br/>reporting date using</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">June 30,<br/>2020</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 1</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 2</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 3</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Contingent consideration</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td><div style="display:inline;">$</div></td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 67%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 67%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >555,482</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >159,591</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >395,891</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 67%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 3%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:92%;"><tr style="font-size: 0px;"><td style="padding: 0pt; width: 70%;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt; width: 4%;;vertical-align:bottom;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td colspan="4" style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;">  </td><td colspan="10" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Fair value measurements at<br/>reporting date using</div></td><td style="padding: 0pt; font-family: "times new roman";;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt;;vertical-align:bottom;;width:;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">December 31,<br/>2019</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 1</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 2</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;">  </td><td colspan="2" style="padding: 0pt; border-bottom: 1pt solid rgb(0, 0, 0);;text-align:center;;vertical-align:bottom;;width:;"><div style="font-weight:bold;display:inline;">Level 3</div></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;;width:;"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Assets:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Interest rate swaps</div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;"> —  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >9</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Liabilities:</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Notes payable</div></div></td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255); width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: "times new roman"; background-color: rgb(204, 238, 255);;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; width: 70%;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Total</div></div></div></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;">$</td><td style="padding: 0pt;;text-align:right;;vertical-align:bottom;" >3,313</td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="white-space: nowrap; padding: 0pt;;vertical-align:bottom;">$</td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:bottom;">—  </td><td style="white-space: nowrap; padding: 0pt; font-family: 'times new roman';;vertical-align:bottom;"> </td></tr><tr style="font-size: 1px;"><td style="padding: 0pt; font-family: "times new roman"; width: 70%;;vertical-align:bottom;"></td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td><td style="padding: 0pt; font-family: "times new roman"; width: 4%;;vertical-align:bottom;">  </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt; font-family: 'times new roman';"> </td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;width:100%;"><tr style="page-break-inside: avoid;"><td style="padding: 0pt;;text-align:left;;vertical-align:top;;width:4%;"><div style="font-weight:bold;display:inline;">4.</div></td><td style="padding: 0pt;;text-align:left;;vertical-align:top;"><div style="font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Notes Payable </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">The Company is the Borrower under that certain Credit Agreement, dated as of March 11, 2020, among Open Lending, UBS AG, Stamford Branch, as administrative agent, the lenders from time to time party thereto and the other parties thereto, as amended, the Credit Agreement (<div style="letter-spacing: 0px; top: 0px;;display:inline;">the<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div>“Credit Agreement”). Pursuant to the Credit Agreement, the lenders thereto funded a term loan (“Term Loan”) in a principal amount of $170.0 million, which was used primarily to fund a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">non-liquidation</div> distribution to its unitholders and provide cash reserves. The current maturity date for the Credit Agreement is March 2027. The term loan bears interest at a rate of<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>LIBOR plus 6.50% <div style="letter-spacing: 0px; top: 0px;;display:inline;">(<div style="letter-spacing: 0px; top: 0px;;display:inline;">subject to a LIBOR floor of <div style="letter-spacing: 0px; top: 0px;;display:inline;">1</div>%</div>) </div>or the base rate plus 5.50%.<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">For the three and six months ended June 30, 2020, the weighted average effective interest rate was <div style="letter-spacing: 0px; top: 0px;;display:inline;">7.50</div>%.</div></div><div style="font-size: 10pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"> </div> The Credit Agreement contains a maximum total net leverage ratio financial covenant that is tested quarterly and is calculated based on the ratio of the Company’s Adjusted EBITDA (as defined in the Credit Agreement) to funded indebtedness. The maximum total net leverage ratio begins at 4.75 to 1.0 and then gradually decreases from <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">year-to-year</div></div> down to 2.5 to 1.0 on or after June 30, 2026.</div><div style="font-size: 1px; margin-top: 6px; margin-bottom: 0px;"><div style="font-size: 1px; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company’s outstanding Notes Payable consists of the following: </div></div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:84%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:77%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:7%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 8pt;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div><div style="font-weight:bold;display:inline;"> </div></div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="padding: 0pt; font-size: 8pt;;text-align:center;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">June 30,</div></div></div></div></div><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">2020</div></div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="padding: 0pt; font-size: 8pt;;text-align:center;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">December 31,</div></div></div></div></div><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="font-weight:bold;display:inline;"><div style="font-size: 8pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">2019</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Note payable</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">—  </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">3,334</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Term loan due 2027</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">168,938</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">—  </div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Less: debt issuance costs</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">(9,347</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">) </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">(21</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">) </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Less: current portion of notes payable</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(4,463</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">) </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(2,484</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">) </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Long-term notes payable, ne</div></div></div></div><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="background-color:#cceeff;;display:inline;">t</div><div style="background-color: rgb(204, 238, 255);;display:inline;"><div style="background-color:#cceeff;;display:inline;"> </div></div></div></div></div></div><div style="font-weight:bold;display:inline;"><div style="font-size: 10pt; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="background-color:#cceeff;;display:inline;">of</div></div></div></div><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="background-color:#cceeff;;display:inline;"> </div></div></div></div></div><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">debt issuance costs </div></div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">$</div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">155,128</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">$</div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">829</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As of June 30, 2020, the Company was in<div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div>compliance with the debt covenants contained in the Credit Agreement. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
<div style="font-family: times new roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company’s outstanding Notes Payable consists of the following: </div></div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: "times new roman"; font-size: 10pt; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:84%;"><tr style="font-size: 0px;"><td style="padding: 0pt;;width:77%;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:7%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;;vertical-align:bottom;;width:6%;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td><td style="padding: 0pt;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 8pt;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">(in thousands)</div><div style="font-weight:bold;display:inline;"> </div></div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="padding: 0pt; font-size: 8pt;;text-align:center;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">June 30,</div></div></div></div></div><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">2020</div></div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td colspan="2" style="padding: 0pt; font-size: 8pt;;text-align:center;;vertical-align:bottom;"><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 8pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">December 31,</div></div></div></div></div><div style="font-family: 'times new roman'; font-size: 8pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;margin-left :auto;margin-right :auto;"><div style="font-weight:bold;display:inline;"><div style="font-size: 8pt; font-family: 'times new roman', serif; letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">2019</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Note payable</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">—  </div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">3,334</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Term loan due 2027</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">168,938</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="white-space: nowrap; padding: 0pt;;text-align:right;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">—  </div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Less: debt issuance costs</div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">(9,347</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">) </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"> </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">(21</div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">) </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Less: current portion of notes payable</div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(4,463</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">) </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;text-align:right;;vertical-align:top;" ><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">(2,484</div></div></td><td style="white-space: nowrap; padding: 0pt;;vertical-align:top;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">) </div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="padding: 0pt; background-color: rgb(204, 238, 255); font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: 'times new roman'; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; margin-left: 1em; line-height: normal;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">Long-term notes payable, ne</div></div></div></div><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="background-color:#cceeff;;display:inline;">t</div><div style="background-color: rgb(204, 238, 255);;display:inline;"><div style="background-color:#cceeff;;display:inline;"> </div></div></div></div></div></div><div style="font-weight:bold;display:inline;"><div style="font-size: 10pt; font-family: "times new roman", serif; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="background-color:#cceeff;;display:inline;">of</div></div></div></div><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"><div style="background-color:#cceeff;;display:inline;"> </div></div></div></div></div><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">debt issuance costs </div></div></div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">$</div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">155,128</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:bottom;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">  </div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">$</div></div></div></td><td style="padding: 0pt; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:top;" ><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;">829</div></div></div></td><td style="white-space: nowrap; padding: 0pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div></div></td></tr><tr style="font-size: 1px;"><td style="padding: 0pt;;vertical-align:bottom;"> </td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">  </div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;;vertical-align:bottom;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></div></div></td><td style="padding: 0pt;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"> </div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px; background: none;"></div><div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
2027-03
168938000
9347000
21000
4463000
2484000
3334000
2020-07-10
569000
569000
LIBOR floor of 1%
5009000
base rate plus 5.50%
iso4217:USD
xbrli:shares
xbrli:pure
iso4217:USD
xbrli:shares
lpro:Tradingdays