Stabilis Solutions entered into a Second Modification Agreement with Huntington National Bank to amend its existing Loan Agreement. The amendment adds a blocked $5 million cash collateral account securing obligations and limits revolving availability to the cash on deposit, capped at $10 million, until the company meets a 1.20x fixed charge coverage ratio for two consecutive quarters starting with the quarter ending March 31, 2027. Upon compliance, availability will revert to the borrowing base up to $10 million and the cash collateral account will be released. Stabilis paid a $15,000 upfront fee.
Agreement details:
- Agreement type: Second Modification Agreement to revolving credit facility
- Counterparty: Huntington National Bank
- Signed / Effective: Jun 29 2026 / same
- Reason: Strengthen liquidity while meeting revised covenant requirements
Original SEC Filing:
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