United Homes Group, Inc. 8-K

What Happened
United Homes Group, Inc. announced on March 31, 2026 that it entered into amendments to two of its credit agreements — a Fifth Amendment to its Wells Fargo credit facility and a Second Amendment to its Kennedy Lewis credit facility — to temporarily waive certain covenant requirements in connection with the company’s pending merger with Stanley Martin Homes, LLC. The Wells Fargo amendment and the Kennedy Lewis amendment were filed as Exhibits 10.1 and 10.2 to the 8‑K.

Key Details

• Date of amendments: March 31, 2026.
• Waived items: Debt Service Coverage Ratio (DSCR) and Leverage Ratio covenants.
  • Wells Fargo facility: waivers effective from March 31, 2026 until the earlier of May 31, 2026 (the “Outside Date”), if the merger has not closed by then, or an Event of Default unrelated to those covenants.
  • Kennedy Lewis facility: waivers cover the period January 1, 2026 through the fiscal quarter ending on or before March 31, 2026.
• Refinancing requirement: If the merger has not closed by the Outside Date, the borrower must refinance the applicable credit facility and repay outstanding obligations in full within 60 days from the Outside Date (or from notice that the merger will not occur).

Why It Matters
These amendments give United Homes short‑term relief from key loan covenants tied to leverage and cash‑flow coverage while the merger is pending, reducing the risk of a covenant breach during the transaction period. If the merger does not close by the Outside Date, the company must refinance and repay the facilities within 60 days — a material deadline for liquidity and creditor arrangements that investors should monitor.