---
schema_version: "secwatch.filing_event.v1"
accession: "0001515156-26-000041"
form_type: "8-K"
ticker: "ARQ"
cik: "0001515156"
company_name: "Arq, Inc."
filed_at: "2026-04-01T23:59:59+00:00"
generated_at: "2026-05-15T07:58:10.286609+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Arq enters fifth amendment to credit agreement, adjusts liquidity covenant and borrowing base

## Summary
- Replaces minimum liquidity covenant with $2.5M availability reserve, increasing to $5M in Jan 2027.
- Adds eligible equipment and Rolling Stock to borrowing availability calculation.
- Permits higher single customer concentration in Eligible Accounts until August 2026.
- Fifth amendment to Credit, Security and Guaranty Agreement with MidCap Funding IV Trust dated March 31, 2026.
- Amendment fee paid; conditions satisfied; reaffirms security interests and representations.

## SEC filing metadata
- accession: 0001515156-26-000041
- form_type: 8-K
- ticker: ARQ
- cik: 0001515156
- company_name: Arq, Inc.
- filed_at: 2026-04-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1515156/000151515626000041/0001515156-26-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1515156/000151515626000041/arq-20260331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001515156-26-000041
- JSON: https://secwatch.observer/filing/0001515156-26-000041.json
- Plain text: https://secwatch.observer/filing/0001515156-26-000041.txt

## Key facts
- Material Agreements
  Arq, Inc. amended Fifth Amendment with MidCap Funding IV Trust (effective 2026-03-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: MidCap Funding IV Trust
  - Effective: 2026-03-31
  source text: On March 31, 2026 , Arq, Inc. (the "Company") and certain of its subsidiaries, entered into the fifth amendment (the "Fifth Amendment") to the Credit, Security and Guaranty Agreement (the "Revolving Credit Agreement"), dated December 27, 2024, as amended on May 6, 2025, December 9, 2025, January 28, 2026, and February 27, 2026, 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1515156/000151515626000041/0001515156-26-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.