secwatch.observer — SEC 8-K summary
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Issuer:     FTC Solar, Inc. (FTCI)
CIK:        0001828161
Form:       8-K
Filed at:   2026-03-24T23:59:59+00:00
Accession:  0001193125-26-120582
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1828161/000119312526120582/0001193125-26-120582-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1828161/000119312526120582/d50621d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-120582

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer