FTC Solar, Inc. (FTCI) Form 8-K — Oct 5, 2026
FTC Solar entered a Third Amendment and Limited Waiver to its July 2025 credit agreement on September 30, 2026, with Acquiom Agency Services LLC as administrative agent. The amendment defers the next $5,000,000 ECF Repayment from September 30, 2026 to March 31, 2027 and suspends the minimum cash, revenue, and EBITDA financial covenants through the quarter ended September 30, 2026. Covenants resume in 2027: $15,000,000 minimum unrestricted cash from January 4, 2027, minimum quarterly revenue of $60,000,000 rising to $75,000,000 from March 31, 2027, and minimum quarterly EBITDA of $2,000,000 stepping to $25,000,000 on a trailing-12-month basis by end of 2027.
Key figures
- Prior amendments
- ["First Amendment 2025-11-11","Second Amendment and Limited Waiver 2026-03-23"]
- Term loan maturity
- 2029-07-02
- Credit agreement date
- 2025-07-02
- New ecf repayment date
- 2027-03-31
- Ecf repayment deferred usd
- 5000000
- Min lq revenue q1 2027 usd
- 60000000
- Min lq revenue thereafter usd
- 75000000
- Min consolidated ebitda q1 2027 usd
- 2000000
- Second delayed draw commitments usd
- 37500000
- Min consolidated ebitda 12m 2027 usd
- 25000000
- Min unrestricted cash from 2027 01 04 usd
- 15000000
AI analysis
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