Smart Sand, Inc. has entered into an amendment to its senior secured asset-based credit facility, increasing the total available revolving commitments by $20 million. The filing, dated September 1, 2026, details the terms of Amendment No. 2 to the Credit Agreement, which was originally executed on September 3, 2024.
The amendment raises the aggregate revolving commitments under the facility from $30 million to $50 million. The additional $20 million is supported by adjustments to the borrowing base, specifically a $20 million sublimit based on the value of the Company’s Oakdale, Wisconsin facility. When this portion of the borrowing base is utilized, a related minimum excess liquidity test applies.
In conjunction with the increase in commitments, the Company agreed to a negative pledge of the Oakdale real property. The amendment also adjusts certain financial thresholds within the Credit Agreement and provides for a $20 million deduction from the calculation of the fixed charge coverage ratio for unfinanced capital expenditures.
The term of the facility has been extended from its original maturity date to September 1, 2031. The amendment was executed by Smart Sand and certain of its subsidiaries, with First-Citizens Bank & Trust Company acting as the sole lender and agent.
