Broadwind secures $42.6M Wells Fargo facilities, replacing prior credit

BROADWIND, INC.

$35M revolver and $7.578M term loan from Wells Fargo, maturing August 2027.
Facility replaces prior CIBC Bank USA credit agreement; used for corporate purposes.
Borrowings bear Daily Simple SOFR plus 2.00%-2.50% margin (revolver) and 2.50% (term loan).
Covenants include minimum EBITDA ramp from $0 (Jun 2022) to $5.1M (Jun 2023).
Company can prepay without penalty; secured by assets and Abilene, TX facility.

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