Smart Sand, Inc. has entered into an amendment to its senior secured asset-based credit facility. The company, based in Yardley, Pennsylvania, executed Amendment No. 2 to the Credit Agreement on September 1, 2026, with First-Citizens Bank & Trust Company acting as the sole lender and agent.
The amendment increases the total revolving commitments available under the facility by $20 million, raising the aggregate amount to $50 million. This increase is supported by adjustments to the borrowing base, which includes a $20 million sublimit based on the value of the company’s Oakdale, Wisconsin facility. Additionally, the amendment includes a minimum excess liquidity test that applies when the Oakdale facility portion of the borrowing base is utilized.
In connection with the increased commitments, the company agreed to a negative pledge regarding the Oakdale real property. The amendment also adjusts certain thresholds within the Credit Agreement and provides for a $20 million deduction from unfinanced capital expenditures in the calculation of the fixed charge coverage ratio.
The term of the facility has been extended to September 1, 2031. The full text of the Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K.
