FTC Solar, Inc.: amends credit agreement, delays $5,000,000 repayment

What happened

• FTC Solar, Inc. announced that on Sep 30, 2026 it entered into the Third Amendment and Limited Waiver to its Credit Agreement dated Jul 2, 2025 (as amended). The Third Amendment moves the payment date for the next $5,000,000 ECF Repayment from Sep 30, 2026 to Mar 31, 2027 and amends the financial covenants under Section 6.10 of the Credit Agreement. The company issued a press release on Oct 5, 2026 announcing the Third Amendment.

Key details

• None of the financial covenants applied to the company for the quarter ended Sep 30, 2026.
• Minimum unrestricted cash covenant will apply beginning Jan 4, 2027, requiring unrestricted cash balances of $15,000,000 at all times.
• Minimum revenue covenant will apply beginning Mar 31, 2027, requiring LQ Revenue of not less than $60,000,000 for the quarter ending Mar 31, 2027 and at least $75,000,000 for each fiscal quarter thereafter.
• Consolidated EBITDA covenant will apply beginning Mar 31, 2027, requiring at least $2,000,000 of Consolidated EBITDA for the quarter ending Mar 31, 2027 and at least $25,000,000 of Consolidated EBITDA for the 12 months ending Dec 31, 2027 and as of the last day of each fiscal year thereafter; direct tracker margin thresholds also commence with the quarter ending Mar 31, 2027.

Why it may matter

• This filing reports Item 1.01 (entry into a material definitive agreement) describing amendments to the Credit Agreement and Item 7.01 (Regulation FD disclosure) reporting the press release. It describes changes to repayment timing and to several financial covenants that govern the company’s credit agreement. This filing does not show why the insider traded or why the company acted.