Hydrofarm defaults on interest payment, enters forbearance agreement through April 30

HYDROFARM HOLDINGS GROUP, INC.

Missed interest payment on $114.4M term loan (due Jan 31, 2026) led to default; forbearance until April 30, 2026.
Conditions: maintain $1M avg daily cash, provide asset-sale term sheet, budgets, and attend lender calls.
Amendment No. 2 replaces JPMorgan with FEAC as agent; adds $1M minimum liquidity covenant.
Accrued unpaid interest of $5.2M; default-rate interest accruing since Feb 6, 2026.
Company must present at least two asset valuation bids and a sale term sheet to lenders.

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