FTC Solar obtains covenant waiver, amends credit agreement with $10M repayments and tighter covenants

FTC Solar, Inc.

Waiver for purchase order covenant breach in Q4 2025; covenant suspended until March 2027.
$19.9M term loan reclassified as long-term debt after waiver.
Mandatory principal repayments: $2.5M on March 23, $2.5M on May 22, $5M on Sept 30, 2026.
New minimum cash covenant: $15M at June 30, 2026, then $10M; quarterly revenue targets: $25M (Q2'26), $50M (Q3), $75M (Q4'26+).
EBITDA floor: $10M for 12 months ending Dec 2026, $25M thereafter; failure to pay triggers default.

item 1.01 item 2.04 item 9.01

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discovered_at: 2026-05-14T18:02:36.397491+00:00
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accession 0001193125-26-120582

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