Financing ·
FTC Solar defers $5M debt repayment and waives covenants through March 2027
FTCIFTC Solar, Inc.
FTC Solar entered into a Third Amendment to its Credit Agreement, deferring a $5 million cash repayment originally due September 30, 2026, to March 31, 2027. The amendment waives financial covenants for the third and fourth quarters of 2026. New covenants take effect in early 2027, requiring a minimum unrestricted cash balance of $15 million starting January 4, 2027, and an adjusted EBITDA of at least $2 million for the quarter ending March 31, 2027. Revenue and margin covenants will apply beginning in the first quarter of 2027. FTC Solar is a leading provider of solar tracker systems, software, and engineering services.