FTC Solar, Inc. (FTCI): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FTC Solar, Inc. amended credit facility of the $19.9 million term loan balance with Acquiom Agency Services LLC, as administrative agent for the Lenders.

Instrument: credit facility
Principal: the $19.9 million term loan balance
Counterparty: Acquiom Agency Services LLC, as administrative agent for the Lenders
Event: amendment

Exact text from the filing

Agreement ”). As a result of such covenant default, the Company publicly disclosed in its earnings press release published on March 5, 2026 that the Company had reclassified the $19.9 million term loan balance under the Existing Credit Agreement from long-term debt to current for the period ended December 31, 2025. On March 23, 2026, the Company and the Agent on

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FTC Solar, Inc. amended Second Amendment and Limited Waiver to Credit Agreement with Acquiom Agency Services LLC, as administrative agent for the Lenders (effective 2026-03-23).

Action: amendment
Agreement: credit facility
Counterparty: Acquiom Agency Services LLC, as administrative agent for the Lenders
Effective: 2026-03-23

Exact text from the filing

On March 23, 2026, the Company and the Agent on behalf of the required Lenders, entered into a Second Amendment and Limited Waiver to Credit Agreement

View on SEC.gov

102 debt financings filed in the last 30 days. Browse all debt financings →

FTC Solar, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-26-120582

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.