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Epsilon Power Ltd. (” Epsilon ” or the ” Firm “) (NASDAQ: EPSN) right now reported the closing of a brand new and revised senior secured reserve-based revolving credit score facility (the ” Credit score Facility “) with Frost Financial institution as the executive agent and Frost Financial institution and Texas Capital Financial institution as lenders. The brand new Credit score Facility replaces the Firm’s earlier credit score facility.
Time period highlights of the Credit score Facility:
- Epsilon Power USA Inc. and Epsilon Power Ltd. as co-borrowers
- 4 yr time period (matures October 8, 2029)
- Preliminary borrowing base and commitments of $47.5 million (supported by the Firm’s present US upstream belongings), which might be redetermined and elevated on the closing of the acquisition of the Peak corporations later in This autumn 2025 (to incorporate the acquired belongings).
- Semi-annual redeterminations
- Curiosity is charged on drawdowns on the 3-Month Time period SOFR charge plus a margin of 3-4% (relying on facility utilization), payable quarterly
The brand new Credit score Facility will initially fund similtaneously the closing of the Peak corporations acquisition. Proceeds will go to repaying Peak’s present time period mortgage, with an estimated stability at closing of $49.6 million.
“The brand new and revised credit score facility provides dedication capability and tenor and permits the Firm to comfortably shut the acquisitions introduced in August whereas sustaining a robust stability sheet and liquidity going ahead” commented Andrew Williamson, Epsilon’s Chief Monetary Officer.
A duplicate of the brand new mortgage settlement is obtainable within the Kind 8K filed following this launch.
About Epsilon
Epsilon Power Ltd. is a North American onshore pure gasoline and oil manufacturing and gathering firm with belongings in Pennsylvania, Texas, Alberta CA, New Mexico, and Oklahoma
Ahead-Trying Statements
Sure statements contained on this information launch represent ahead trying statements. The usage of any of the phrases “anticipate”, “proceed”, “estimate”, “count on”, ‘could”, “will”, “undertaking”, “ought to”, ‘consider”, and comparable expressions are supposed to determine forward-looking statements. These statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes or occasions to vary materially from these anticipated. Ahead-looking statements are primarily based on affordable assumptions, however no assurance will be on condition that these expectations will show to be appropriate and the forward-looking statements included on this information launch shouldn’t be unduly relied upon.
Contact Data:
281-670-0002
Jason Stabell
Chief Government Officer
Jason.Stabell@EpsilonEnergyLTD.com
Andrew Williamson
Chief Monetary Officer
Andrew.Williamson@EpsilonEnergyLTD.com
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