Orion Group amends credit agreement; revises liquidity covenants and prepayment schedule

Orion Group Holdings Inc

Minimum liquidity threshold set at $8M through July 26, 2024; $10M through Sep 30, 2024; $15M thereafter.
Mandatory prepayments: $2M by July 26, $4M by Aug 30, $4M by Sep 30, $5M by Oct 31, 2024.
East and West Jones property sale proceeds can offset up to $10M of capital expenditures for covenant compliance.
Amendment fee of $50,000 paid to administrative agent; release of claims against lenders.
Cash dominion event triggered if liquidity falls below applicable threshold; reporting frequency increased.

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