FTC Solar enters binding term sheet for up to $10M in senior secured notes and warrants

FTC Solar, Inc.

Notes bear 11% interest (13% PIK option), mature in 5 years, secured by all company assets.
Warrants to purchase up to 1,166,667 shares at $0.10 per share, exercisable for 10 years.
Financing contingent on FTC Solar closing an additional $10M investment from FH Capital by March 31, 2025.
Financial covenants: revenue >$100M in 2025, >$200M in 2026; EBITDA >$25M in 2026; cash >$5M quarterly.
Proceeds to be used for balance sheet support and growth acceleration.

item 1.01 item 9.01

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filed_at: 2025-03-10T23:59:59+00:00
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accession 0001193125-25-050884

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