---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-003716"
form_type: "8-K"
ticker: "KLNG"
cik: "0001110607"
company_name: "Koil Energy Solutions, Inc."
filed_at: "2023-05-26T23:59:59+00:00"
generated_at: "2026-06-14T12:33:06.370879+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Koil Energy signs factoring agreement with Amegy Bank; receivables sold at 15-25% discount, interest Prime+2%

## Summary
- Invoices sold at 15% discount (time & materials) or 25% (milestone billing) of gross invoice amount.
- Variable discount amount based on WSJ Prime + 2% (floor 8%) per annum on purchase price.
- Receivables not paid within 90 days trigger charge-back and repurchase obligation by Koil.
- Agreement grants Amegy security interest in all present and future assets of Koil.
- Minimum monthly discount fee of $1,000; $5,000 documentary fee deducted from first schedule.

## SEC filing metadata
- accession: 0001683168-23-003716
- form_type: 8-K
- ticker: KLNG
- cik: 0001110607
- company_name: Koil Energy Solutions, Inc.
- filed_at: 2023-05-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/0001683168-23-003716-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/koil_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-003716
- JSON: https://secwatch.observer/filing/0001683168-23-003716.json
- Plain text: https://secwatch.observer/filing/0001683168-23-003716.txt

## Key facts
- Debt Financings
  Koil Energy Solutions, Inc. entered an off-balance-sheet arrangement for debt with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit at Wall Street Journal Prime Rate (“Prime Rate”) plus 2.00%. The Prime Rate has a f.
  - Counterparty: Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit
  - Rate: Wall Street Journal Prime Rate (“Prime Rate”) plus 2.00%. The Prime Rate has a f
  - Event: off balance sheet
  source text: On May 24, 2023, Koil Energy Solutions, Inc. (“Koil Energy”) entered into a Purchase and Sale Agreement/Security Agreement (“Factoring Agreement”) with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit (“Amegy”), which provides for Koil Energy from time to time to sell its accounts receivable and other rights to Amegy. Amegy has the right to approve or reject future accounts receivable or other items of any kind proposed for sale under this Factoring Agreement in its sole discretion, and no course of conduct shall establish any commitment to purchase future accounts receivable or other items of any kind. The purchase price for the receivables shall be the gross amount of the invoice minus the discount. The “discount” means 15% of the gross amount of an invoice that is generated by the rendering of services or selling of goods on a time and materials basis, and 25% of the gross amount of an invoice that is generated by the rendering of services or selling of goods on a milest
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/0001683168-23-003716-index.htm
- Material Agreements
  Koil Energy Solutions, Inc. entered into Purchase and Sale Agreement/Security Agreement with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit valued at Purchase price is gross invoice minus discount; discount is 15% for time-and-materials or 25% for mi (effective 2023-05-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit
  - Value: Purchase price is gross invoice minus discount; discount is 15% for time-and-materials or 25% for mi
  - Effective: 2023-05-24
  source text: On May 24, 2023, Koil Energy Solutions, Inc. (“Koil Energy”) entered into a Purchase and Sale Agreement/Security Agreement (“Factoring Agreement”) with Zions Bancorporation, N.A., d/b/a Amegy Bank Business Credit (“Amegy”), which provides for Koil Energy from time to time to sell its accounts receivable and other rights to Amegy.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1110607/000168316823003716/0001683168-23-003716-index.htm

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