PRESIDIO PRODUCTION Co 8-K/A

What Happened

• Presidio Production Co. filed an 8‑K (Accession 0001213900-26-026608) reporting the closing of its business combination (Closing Date in early March 2026) and several related agreements and corporate actions. Key transactions executed on or about March 4–5, 2026 include a registration and stockholders’ rights agreement, an amended and restated LLC agreement for EQV Holdings, assignment of EQV’s warrant agreement to Presidio, indemnification agreements for directors and officers, a Series A Certificate of Designation and stockholders’ agreement for Series A Preferred Shares, and a senior secured revolving Credit Agreement dated March 4, 2026. Presidio Class A common stock and Presidio warrants began trading on the NYSE under the tickers “FTW” and “FTW WS” on March 5, 2026.

Key Details

• Credit facility: Presidio Borrower LLC entered a senior secured revolving credit agreement with initial aggregate commitments and initial borrowing base of $65.0 million, a maximum aggregate credit amount of $500.0 million, and a scheduled maturity of 4 years; borrowing tied to redeterminations and lender criteria.
• Financial covenants: current ratio ≥ 1.00:1.00 and total net leverage ratio ≤ 3.00:1.00 (Consolidated Total Net Indebtedness to Consolidated EBITDAX); customary restrictive covenants and events of default apply.
• Governance and investor rights: Sponsor (or permitted transferees) may designate two directors while holding >20% of common equity and one director while holding >10%; certain holders are subject to a 180‑day transfer restriction on registrable securities.
• Series A preferred: Certificate of Designation filed March 4, 2026; majority holders of issued Series A Preferred Shares can elect one Series A Director and, in certain cases, up to two additional preferred directors.
• Other: EQV’s public warrants were assigned to Presidio (Presidio Warrants retain prior terms); indemnification agreements require Presidio to indemnify and advance expenses for directors and officers; company ceased to be a shell company following the closing.

Why It Matters

• Liquidity and operations: The new $65M initial revolving facility (expandable up to $500M subject to lender redeterminations) provides immediate liquidity capacity to fund operations and development but comes with financial covenants and borrowing conditions investors should monitor.
• Governance and control: Sponsor and Series A preferred holders have explicit director-designation rights, which can influence board composition and strategic direction. Lock-ups and registration rights affect timing and liquidity of insider sales.
• Market access and dilution: Warrant assignment and registration rights may affect future share issuance and dilution; the company’s NYSE listing and ticker transfer (“FTW”, “FTW WS”) improve public trading continuity after the business combination.
• Risk profile: The credit agreement’s covenants, default provisions (including change in control), and restrictions on certain corporate actions create operational constraints that investors should consider alongside growth prospects.

For full terms and legal language, refer to the exhibits and agreements filed with the Form 8‑K.