Stabilis Solutions, Inc. (SLNG): debt financing — Stabilis Solutions secures $10M revolving credit facility with Cadence Bank

Stabilis Solutions, Inc.

Facility matures June 2026; includes $5M accordion subject to lender approval.
Borrowing base is 80% of eligible accounts receivable; no borrowings drawn as of June 12.
Interest at Prime Rate (Wall Street Journal); 0.5% quarterly unused commitment fee.
Secured by Borrowers' accounts receivable and deposit accounts.
Covenants include minimum net worth of $50M and fixed charge coverage ratio of 1.20x.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Stabilis Solutions, Inc. incurred revolving credit of $10 million with Cadence Bank at Prime Rate published by the Wall Street Journal maturing June 9, 2026.

Instrument: revolving credit
Principal: $10 million
Counterparty: Cadence Bank
Rate: Prime Rate published by the Wall Street Journal
Maturity: June 9, 2026
Event: incurrence

Exact text from the filing

The Loan Agreement provides for a revolving credit facility that matures on June 9, 2026. The maximum aggregate amount of availability under the revolving credit facility is $10 million, subject to a borrowing base of 80% of eligible accounts receivable. None of the funds available under the Loan were drawn as of June 12, 2023. The Borrowers may request an

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Stabilis Solutions, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-021888

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