Hallador Energy amends credit facility, issues $4M convertible notes to directors

HALLADOR ENERGY CO

Eighth amendment to credit agreement: max leverage ratio raised to 4.50x, debt service coverage waived for Q3 2022.
Capex limit for 2022 raised to $40M; $20M of unsecured debt authorized through Oct 31, 2022.
Issued $4.0M unsecured convertible notes (8% interest, due Dec 29, 2028) to two directors.
Notes convertible at $6.254/share; proceeds used for working capital.
Issuance exempt under Section 4(a)(2) and Rule 506(b) of Securities Act.

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