Shoals Technologies Secures $50M Incremental Revolving Loans

Shoals Technologies Group, Inc. has secured a new $50 million incremental revolving loan facility through Amendment No. 7 to its existing Credit Agreement. This facility, available for an 18-month period, carries substantially similar terms to the company's existing revolving loans and allows for prepayment without premium or penalty. The amendment also revises financial covenants, replacing the maximum consolidated first lien secured leverage ratio with a maximum consolidated total leverage ratio of 4.00:1.00, with provisions for temporary increases during material acquisitions.