secwatch.observer — SEC 8-K summary
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Issuer:     Smart Sand, Inc. (SND)
CIK:        0001529628
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0001529628-24-000167
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1529628/000152962824000167/0001529628-24-000167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1529628/000152962824000167/snd-20240903.htm
  HTML page:      https://secwatch.observer/filing/0001529628-24-000167

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