STOCK TITAN

Shoals Technologies Group (NASDAQ: SHLS) adds $50M revolver, resets leverage test

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
8-K/A

Rhea-AI Filing Summary

Shoals Technologies Group, Inc. amended its existing credit agreement by entering into Amendment No. 7, effective June 10, 2026. The amendment adds a new tranche of incremental revolving loans totaling $50,000,000, available for 18 months after the effective date, on substantially the same terms as the existing revolving loans and prepayable without premium or penalty.

The amendment also replaces the prior financial covenant with a maximum consolidated total leverage ratio of 4.00:1.00, with temporary increases permitted if a material acquisition closes, and updates other covenants in a manner described as customary. This 8-K/A itself is being filed only to correct a scrivener’s error in the previously filed version of Amendment No. 7 and to provide a readable exhibit, without material changes to the underlying agreement or other disclosures.

Positive

  • None.

Negative

  • None.

Insights

Shoals adds a $50M revolver tranche and adjusts leverage covenant, a modest capital structure update.

Shoals Technologies Group expanded its lending capacity through a new tranche of $50,000,000 in incremental revolving loans, available for 18 months after June 10, 2026. These loans share substantially the same terms as the existing revolver and can be prepaid at any time without premium or penalty.

The amendment replaces the prior secured leverage test with a maximum consolidated total leverage ratio of 4.00:1.00, with temporary increases if a material acquisition closes. This shifts focus to overall leverage while retaining flexibility for deal-making, though actual impact depends on future borrowing and acquisition activity.

The current 8-K/A is described as correcting a scrivener’s error and providing a readable exhibit, with Amendment No. 7 otherwise unchanged in all material respects. Subsequent company filings may provide more detail on utilization of the new revolving capacity and any acquisitions that trigger temporary covenant step-ups.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Incremental revolver size $50,000,000 2026 Incremental Revolving Loans under Amendment No. 7
Availability period 18 months Availability of 2026 Incremental Revolving Loans after June 10, 2026
Max total leverage ratio 4.00:1.00 Maximum consolidated total leverage ratio under Amended Credit Agreement
Effective date June 10, 2026 Effective date of Amendment No. 7 to Credit Agreement
Exhibit 10.1 Amendment No. 7 Filed as material definitive agreement to Credit Agreement
incremental revolving loans financial
"provides for a new tranche of incremental revolving loans in an aggregate principal amount of $50,000,000"
maximum consolidated total leverage ratio financial
"replaces the financial covenant ... with the maximum consolidated total leverage ratio of 4.00:1.00"
material definitive agreement regulatory
"Item 1.01 Entry into a Material Definitive Agreement."
A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.
direct financial obligation regulatory
"Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement"
Collateral Agent financial
"Wilmington Trust, National Association, as Collateral Agent"
A collateral agent is a neutral third party that holds and manages the assets pledged to secure a loan on behalf of a group of lenders, acting like the keyholder to a shared safe. If the borrower falls behind, the collateral agent enforces the lenders’ rights and coordinates who gets what, which affects how quickly and how much lenders can recover. Investors care because the agent’s role shapes recovery prospects, enforcement speed and the clarity of lenders’ claims.
Administrative Agent financial
"JPMorgan Chase Bank, N.A., as Administrative Agent"
An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
False000183165100018316512026-06-102026-06-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
——————————
FORM 8-K/A
——————————
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 10, 2026

——————————
Shoals Technologies Group, Inc.
(Exact name of registrant as specified in its charter)
——————————

Delaware001-3994285-3774438
(State or other jurisdiction of incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
1500 Shoals WayPortlandTennessee37148
(Address of principal executive offices)(Zip Code)
(615)451-1400
(Registrant’s telephone number, including area code)

——————————

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:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, $0.00001 Par ValueSHLSNasdaq Global Market

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.






EXPLANATORY NOTE

On June 12, 2026, Shoals Technologies Group, Inc. (the “Company”) filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (the “Original Form 8-K”). This amendment is being filed solely to correct a scrivener’s error in Amendment No. 7 to the Company’s Credit Agreement, as described in the Original Form 8-K, and to file a readable version of the previously filed exhibit. Amendment No. 7 remains unchanged in all material respects, except for the correction of such scrivener’s error. Except as described herein, no other changes have been made to the Original Form 8-K, and this amendment does not otherwise amend, update or modify any disclosures contained in the Original Form 8-K.

Item 1.01 Entry into a Material Definitive Agreement.

On June 10, 2026 (the “Effective Date”), Shoals Technologies Group, Inc. (the “Company”), as borrower, and certain of its subsidiaries entered into Amendment No. 7 (the “Amendment”) to the Credit Agreement, dated as of November 25, 2020, with Wilmington Trust, National Association, as Collateral Agent, JPMorgan Chase Bank, N.A., as Administrative Agent, and each L/C issuer and lender from time to time party thereto (as amended prior to the Effective Date, the “Existing Credit Agreement,” and as amended from time to time, the “Amended Credit Agreement”).

The Amendment, among other things, (i) provides for a new tranche of incremental revolving loans in an aggregate principal amount of $50,000,000 (the “2026 Incremental Revolving Loans”) for a period of 18 months after the Effective Date, (ii) replaces the financial covenant for the maximum consolidated first lien secured leverage ratio permitted under the Amended Credit Agreement with the maximum consolidated total leverage ratio of 4.00:1.00 (with temporary increases to the maximum consolidated total leverage ratio in the event a material acquisition closes), and (iii) amends certain other covenants under the Amended Credit Agreement in a manner customary for facilities of this type.

The 2026 Incremental Revolving Loans have substantially the same terms as the existing revolving loans, except as summarized herein. The 2026 Incremental Revolving Loans may be prepaid at any time, without premium or penalty.

The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated by reference to this Item 2.03.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are filed herewith:

Exhibit No.Description
10.1
Amendment No. 7 to Credit Agreement, dated as of June 10, 2026, between Shoals Technologies Group, Inc., as Borrower, the guarantors party thereto, Wilmington Trust, National Association, as Collateral Agent, JPMorgan Chase Bank, N.A., as Administrative Agent and the 2026 Incremental Revolving Lenders.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).








SIGNATURES

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.

Shoals Technologies Group, Inc.
By:/s/ Dominic Bardos
Name: Dominic Bardos
Title:Chief Financial Officer

Date: June 12, 2026

FAQ

What credit facility change did Shoals Technologies Group (SHLS) make in Amendment No. 7?

Shoals Technologies Group added a new tranche of incremental revolving loans totaling $50,000,000. These 2026 Incremental Revolving Loans are available for 18 months after June 10, 2026 and have substantially the same terms as the company’s existing revolving loans, with prepayment allowed without premium.

How did Amendment No. 7 affect Shoals Technologies Group’s leverage covenant?

Amendment No. 7 replaced the existing financial covenant with a maximum consolidated total leverage ratio of 4.00:1.00. The agreement also allows temporary increases to this maximum consolidated total leverage ratio if a material acquisition closes, giving Shoals added flexibility around larger transactions under its credit agreement.

What is the term of Shoals Technologies Group’s new $50 million incremental revolving loans?

The 2026 Incremental Revolving Loans are available for a period of 18 months after the June 10, 2026 effective date. During this window Shoals can draw on the incremental revolving capacity, and the loans may be prepaid at any time without premium or penalty under the amended credit agreement.

Why did Shoals Technologies Group file this Form 8-K/A amendment?

Shoals filed this 8-K/A solely to correct a scrivener’s error in Amendment No. 7 to its credit agreement and to provide a readable version of the exhibit. The company states Amendment No. 7 is unchanged in all material respects and no other disclosures are modified.

Which parties are involved in Shoals Technologies Group’s Amended Credit Agreement?

Shoals Technologies Group is the borrower under the Amended Credit Agreement with Wilmington Trust, National Association as Collateral Agent, JPMorgan Chase Bank, N.A. as Administrative Agent, and each L/C issuer and lender party thereto, together with certain Shoals subsidiaries as guarantors.

Does Amendment No. 7 create a new direct financial obligation for Shoals Technologies Group (SHLS)?

Yes. The filing classifies the amendment under Item 1.01 for a material definitive agreement and incorporates it into Item 2.03 for creation of a direct financial obligation. It establishes the framework for Shoals to borrow up to $50,000,000 in additional revolving loans under its credit agreement.

Filing Exhibits & Attachments

4 documents