---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-005745"
form_type: "8-K"
ticker: "CLMT"
cik: "0002013745"
company_name: "Calumet, Inc. /DE"
filed_at: "2025-01-14T23:59:59+00:00"
generated_at: "2026-05-28T02:24:27.513500+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Calumet prelim Q4 net loss $54M-$24M; DOE secures up to $1.44B loan for SAF

## Summary
- Expected Q4 net loss between $54M and $24M; Adjusted EBITDA between $45M and $60M.
- DOE Loan Guarantee of up to $1.44B structured in two tranches: $782M in Jan 2025, $658M delayed draw.
- MaxSAF project targets SAF capacity of ~150M gal/yr within 2 years and ~300M gal/yr within 3-4 years.
- Second tranche funding tied to milestone conditions and subject to administration changes.

## SEC filing metadata
- accession: 0001193125-25-005745
- form_type: 8-K
- ticker: CLMT
- cik: 0002013745
- company_name: Calumet, Inc. /DE
- filed_at: 2025-01-14T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2013745/000119312525005745/0001193125-25-005745-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2013745/000119312525005745/d910142d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-005745
- JSON: https://secwatch.observer/filing/0001193125-25-005745.json
- Plain text: https://secwatch.observer/filing/0001193125-25-005745.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.