Arq amends credit agreement; liquidity floor cut to $2M through Jan 30, 2026

Arq, Inc.

Minimum liquidity reduced from $5M to $2M for Dec 10, 2025–Jan 30, 2026; reverts to $5M after Jan 31, 2026.
Borrowing base inventory cap lowered to 50% (Dec 10–Jan 30) then 40% after; concentration limits also tightened.
Second Amendment with MidCap Funding IV Trust; amendment fee paid (amount redacted as confidential).
All Credit Parties reaffirm security interest and release Agent/Lenders from pre-existing claims.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Arq, Inc. amended Second Amendment with MidCap Funding IV Trust, in its capacity as agent, the lenders from time to time party thereto, and any entities that become party thereto as Guarantors (effective 2025-12-09).

Action: amendment
Agreement: credit facility
Counterparty: MidCap Funding IV Trust, in its capacity as agent, the lenders from time to time party thereto, and any entities that become party thereto as Guarantors
Effective: 2025-12-09

Exact text from the filing

On December 9, 2025 , Arq, Inc. (the "Company") and certain of its subsidiaries, entered into the second amendment (the "Second Amendment") to the Credit, Security and Guaranty Agreement (the "Revolving Credit Agreement"), dated December 27, 2024, as amended on May 6, 2025, with MidCap Funding IV Trust, in its capacity as agent, the lenders from time to time party thereto, and any entities that become party thereto as Guarantors.

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Source: SEC EDGAR

accession 0001515156-25-000151

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