secwatch.observer — SEC 8-K summary
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Issuer:     Calumet, Inc. /DE (CLMT)
CIK:        0002013745
Form:       8-K
Filed at:   2026-09-01T20:20:21+00:00
Accession:  0002013745-26-000029
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Calumet's MRL cuts DOE loan to $815.8M, SAF expansion to 200M gal by 2028
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- DOE loan principal reduced to $815.8M from $1.44B; capitalized interest to $232.8M; final draw $34M.
- Remaining project capital $137M vs $1.2B original Phase 2; repurposing CMR equipment via lease.
- SAF run-rate targets: 60M gal/yr now, 80M by YE2026, 120M by Spring 2027, 200M by YE2028.
- No third-party equity required; eliminates dilution; MRL earnings fund balance of expansion.
- CMR continues asphalt production, retains jobs; tie-in turnaround Q4 2026 captures ~$50M EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2013745/000201374526000029/0002013745-26-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2013745/000201374526000029/clmt-20260828.htm
  HTML page:      https://secwatch.observer/filing/0002013745-26-000029

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