Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 1.0
Alto Ingredients, Inc. amended credit facility of Not changed; existing facility amended with Wells Fargo Bank, National Association, Kinergy Marketing LLC, Alto Nutrients, LLC at Not changed maturing Extended from 2023 to 2027.
- Instrument
- credit facility
- Principal
- Not changed; existing facility amended
- Counterparty
- Wells Fargo Bank, National Association, Kinergy Marketing LLC, Alto Nutrients, LLC
- Rate
- Not changed
- Maturity
- Extended from 2023 to 2027
- Event
- amendment
Exact text from the filing
Under Amendment No. 6, the parties agreed, among other things, to extend the maturity date of the loans under the Second Amended and Restated Credit Agreement from 2023 to 2027. The parties also agreed to amend the fixed charge coverage ratio from not less than 2.00 to 1.00 to not less than 1.10 to 1.00 and amended the amount of cash distributions that Kinergy or Alto Nutrients could make to the Company from up to 50% of excess cash flow to up to 75% of excess cash flow.
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Debt Financings
SEC 8-K Item 2.03/2.04
confidence 1.0
Alto Ingredients, Inc. incurred credit facility of Up to $125,000,000, with initial advance up to $100,000,000 and up to an additional $25,000,000 with certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC (administrative agent and collateral agent) at 10% per annum fixed maturing November 7, 2028 or earlier upon acceleration.
- Instrument
- credit facility
- Principal
- Up to $125,000,000, with initial advance up to $100,000,000 and up to an additional $25,000,000
- Counterparty
- certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC (administrative agent and collateral agent)
- Rate
- 10% per annum fixed
- Maturity
- November 7, 2028 or earlier upon acceleration
- Event
- incurrence
Exact text from the filing
On November 7, 2022, Alto Ingredients, Inc. (the “Company”) entered into a Credit Agreement, dated November 7, 2022 (the “Credit Agreement”), by and among the Company, the Subsidiary Guarantors (as defined in the Credit Agreement) from time to time party thereto, certain funds managed by Orion Infrastructure Capital (collectively, the “Lenders”), and OIC Investment Agent, LLC, as administrative agent and collateral agent (“OIC”), under which the Lenders agreed to extend a senior secured credit facility in an amount of up to $125,000,000 in accordance with the terms of the Credit Agreement (the “Credit Facility”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Alto Ingredients, Inc. entered into Credit Agreement with certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC valued at up to $125,000,000 (effective 2022-11-07).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- certain funds managed by Orion Infrastructure Capital (Lenders) and OIC Investment Agent, LLC
- Value
- up to $125,000,000
- Effective
- 2022-11-07
Exact text from the filing
On November 7, 2022, Alto Ingredients, Inc. (the “Company”) entered into a Credit Agreement, dated November 7, 2022 (the “Credit Agreement”), by and among the Company, the Subsidiary Guarantors (as defined in the Credit Agreement) from time to time party thereto, certain funds managed by Orion Infrastructure Capital (collectively, the “Lenders”), and OIC Investment Agent, LLC, as administrative agent and collateral agent (“OIC”), under which the Lenders agreed to extend a senior secured credit facility in an amount of up to $125,000,000 in accordance with the terms of the Credit Agreement (the “Credit Facility”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Alto Ingredients, Inc. amended Amendment No. 6 to Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association, Kinergy and Alto Nutrients (effective 2022-11-07).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association, Kinergy and Alto Nutrients
- Effective
- 2022-11-07
Exact text from the filing
On November 7, 2022, Kinergy and Alto Nutrients entered into an Amendment No. 6 to Second Amended and Restated Credit Agreement, dated November 7, 2022 (“Amendment No. 6”), by and among Wells Fargo Bank, National Association (“Wells Fargo”), Kinergy and Alto Nutrients further amending that certain Second Amended and Restated Credit Agreement dated August 2, 2017 by and among Wells Fargo, the financial institutions from time to time party thereto as lenders, Kinergy and Alto Nutrients (as amended, the “Second Amended and Restated Credit Agreement”).
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