Stabilis Solutions Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

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FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d)

 

Date of Report (Date of earliest event reported): March 27, 2025

 

(Exact name of registrant as specified in its charter)

 

 

 

 

Registrant’s telephone number, including area code: 832-456-6500

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

 

 

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

The information set forth in Item 2.03 is incorporated herein by reference.

 

 

 

On March 27, 2025 Stabilis Solutions, Inc. (the “Company”) along with its subsidiaries, Stabilis LNG Eagle Ford LLC, Stabilis GDS, Inc. and Stabilis LNG Port Allen, LLC (collectively, the "Borrowers") entered into a Modification Agreement (the "Agreement") to its existing Loan Agreement (the "Loan Agreement") with Cadence Bank (the "Lender").  Under the Agreement, the Loan Agreement which provided a $10,000,000.00 Revolving Credit Facility was renewed and the maturity date was extended to June 9, 2028. In addition, the Agreement amended the Fixed Charge Coverage Ratio terms primarily related to the inclusion of excess cash. None of the funds available under the Loan Agreement were drawn as of March 28, 2025.

 

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement filed herewith as Exhibit 4.1 and incorporated herein by reference.

 

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits:

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.