Arq, Inc. 8-K

What Happened
Arq, Inc. announced on January 28, 2026 that it entered into a Third Amendment to its Credit, Security and Guaranty Agreement (the revolving credit agreement) with MidCap Funding IV Trust (as agent) and the lenders. The amendment extends prior changes to the borrowing-availability calculation and changes the company’s minimum liquidity covenant for specified dates. The filing was made on Form 8-K on January 29, 2026 and the amendment is attached as Exhibit 10.1.

Key Details

• Amendment date: January 28, 2026 (to the original agreement dated December 27, 2024; previously amended May 6, 2025 and December 9, 2025).
• Temporary minimum liquidity requirement: $2.0 million from December 10, 2025 through February 27, 2026.
• Ongoing minimum liquidity requirement: $5.0 million effective February 28, 2026 and thereafter.
• Counterparty/agent: MidCap Funding IV Trust, lenders and guarantors under the revolving credit facility.

Why It Matters
This amendment provides covenant relief by lowering the company’s required cash/liquidity floor for a limited period, which can help Arq manage near-term cash needs and borrowing availability under its revolving facility. For investors, the change is a concrete disclosure about the company’s liquidity terms and lender accommodations; it affects how much cash the company must hold and may influence short-term financing flexibility. The full amendment is filed as an exhibit to the 8-K for anyone needing the complete legal terms.