Smart Sand enters $30M ABL credit facility, replacing prior $20M facility maturing Dec 2024

Smart Sand, Inc.

New $30M senior secured asset-based revolver with First-Citizens Bank; $1M drawn at closing, $29M available.
Replaces existing $20M Jefferies Finance facility set to mature December 13, 2024.
Interest rate: SOFR plus 2.75% margin; 5-year term, non-amortizing.
Fixed charge coverage ratio covenant of 1.1:1 applies in limited circumstances.
Borrowing base based on eligible inventory & accounts receivable; excludes real estate and sand reserves from collateral.

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