Phoenix Energy One, LLC (PHXE-P) Form 424B3 — Oct 23, 2026
Phoenix Energy One filed a prospectus supplement updating its registered unsecured and secured notes prospectuses with an 8-K disclosing Amendment No. 11 to its senior secured credit agreement with Fortress Credit Corp., effective October 21, 2026. Amendment No. 11 waives a Specified Default relating to the Current Ratio covenant (minimum 0.90 to 1.00) for months ending April 30, 2026 through December 31, 2026, and permits the Company to issue new secured junior lien notes, including 2026 Registered Secured Notes and 2026 Regulation D Secured Notes.
Key figures
- Abr floor
- 4.00%
- Sofr floor
- 3.00%
- Plan wells count
- 38
- Apod irr threshold
- 25%
- Applicable margin abr
- 6.00%
- Applicable margin sofr
- 7.00%
- Plan net revenue interest
- 80% of Elected Working Interest
- Flex notes max all in yield
- 10.0%
- Closing date ddtl commitment
- $35,000,000
- Current ratio covenant waived
- less than 0.90 to 1.00, for months April 30, 2026 through December 31, 2026
- Amendment no 4 ddtl commitment
- $25,000,000
- Flex notes max stated interest
- 8.5% per annum
- Plan initial commitment payment
- 3.0%
- Amendment no 4 term loan commitment
- $25,000,000
- Amendment no 7 term loan commitment
- $50,000,000
AI analysis
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