RGC RESOURCES INC 8-K

What Happened

• RGC Resources (through its subsidiary Roanoke Gas Company) announced on March 17, 2026 that it amended and restated its Promissory Note (the "Revolving Note") and entered into a Third Amendment to its Amended and Restated Loan Agreement with Pinnacle Bank. The Amendment extends the Revolving Note maturity to March 31, 2028 and adjusts the maximum tiered borrowing limits under the loan agreement. The original loan dates back to March 24, 2023 and had prior amendments on March 31, 2024 and March 31, 2025.

Key Details

• Maturity extended: Revolving Note now matures on March 31, 2028.
• Tiered maximum borrowing limits:
  • March 17, 2026 – March 31, 2027: $30,000,000
  • April 1, 2027 – September 30, 2027: $20,000,000
  • October 1, 2027 – March 31, 2028: $30,000,000
• All other terms, representations, warranties and covenants of the Promissory Note and Loan Agreement, as previously amended, remain in effect.
• The guaranty previously provided to Pinnacle Bank remains in effect.

Why It Matters

• This amendment preserves RGC’s access to a multi-million‑dollar revolving credit facility through March 2028, which affects the company’s short‑term liquidity and borrowing capacity.
• The temporary reduction in the borrowing cap to $20 million for April–September 2027 is a concrete change investors should note when assessing available credit during that period.
• No other loan terms or covenants were changed, and the guaranty remains in place, indicating continuity of the existing credit relationship rather than a restructuring.