Shoals Technologies upsizes revolving credit facility to $150M, amends covenant and benchmark rate

Shoals Technologies Group, Inc.

Revolver increased from $100M to $150M, effective May 2, 2022.
Amendment sets SOFR as Term Benchmark Rate, replacing LIBOR.
Financial covenant amended: consolidated first lien secured leverage ratio not to exceed 6.50:1.00.
CEO Jason Whitaker says increased flexibility supports growth and strategic initiatives.

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