Arq closes $30M revolving credit facility, refinances prior term loan

Arq, Inc.

New $30M asset-based revolver with MidCap Financial; 5-year term, SOFR+4.5% (floor 2.5%).
Borrowing base: 85% eligible AR + 85% net orderly liquidation value of inventory.
Proceeds used to repay ~$11.45M CF Global Term Loan (incl. $220K prepayment premium).
Funds also support growth capex at Red River plant and working capital needs.
Board member Jeremy Blank had indirect 10% earnings interest in prior CF Global loan.

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