Hudson Technologies cuts credit line, updates Wells Fargo agreement

Rhea-AI Filing Summary

Hudson Technologies, Inc. (HDSN) filed an 8-K to disclose that on 23 June 2025 it executed a Third Amendment to its Amended and Restated Credit Agreement with Wells Fargo Bank.

• Revolver size reduced: Maximum revolving borrowings fall to $40 million from $75 million (-47%).
• Letter-of-credit sub-limit cut: Decreases to $1.5 million from $2 million.
• Additional threshold and sub-limit revisions were made, but details are not specified in the filing.
• The amendment constitutes both an Entry into a Material Definitive Agreement (Item 1.01) and the Creation of a Direct Financial Obligation (Item 2.03).
• The full text of the amendment is filed as Exhibit 10.1.

No earnings figures or operational updates were provided; the filing strictly addresses changes to the company’s credit capacity.

Positive

• Continued lender support: Wells Fargo remains administrative agent and lender, indicating ongoing banking relationship despite facility reduction.

Negative

• Liquidity headroom reduced by 47%—revolver limit cut from $75 M to $40 M.
• Letter-of-credit capacity trimmed 25%, potentially constraining trade finance.

Insights

Credit Analyst

TL;DR: Revolver cut to $40 M; signals tighter liquidity or reduced borrowing need, moderately negative.

The 47% reduction in Hudson’s Wells Fargo revolving facility lowers immediately available liquidity and trims the L/C bucket. While this may simply reflect decreased working-capital requirements, lenders often curb lines when risk or utilization drops. Investors should monitor covenant changes inside the exhibit; absent that text, the headline reduction marginally worsens funding flexibility, especially entering seasonal inventory builds typical for refrigerant distributors.

Equity Research Analyst

TL;DR: Neutral-to-slight negative; credit headroom down but bank relationship intact.

The amendment keeps Wells Fargo in place, suggesting continued support, yet trims committed capital. If Hudson has sufficient cash flow and lower debt after recent deleveraging, the company may simply be right-sizing its facility to cut unused-line fees. However, the smaller revolver could cap opportunistic inventory buys or M&A. Without financials, market impact leans modestly negative pending future disclosures.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

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 23, 2025

Hudson Technologies, Inc.

(Exact Name of Registrant as Specified in Charter)

New York

(State or Other Jurisdiction of Incorporation)

1-13412		13-3641539
(Commission File Number)		(IRS Employer Identification No.)

300 Tice Boulevard, Suite 290, Woodcliff Lake, New Jersey		07677
(Address of Principal Executive Offices)		(Zip Code)

(845) 735-6000

(Registrant's Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbols(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	HDSN	Nasdaq Capital Market

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 (see General Instruction A.2. below):

¨ 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))

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.           ¨

Item 1.01 Entry into a Material Definitive Agreement

See Item 2.03 below.

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

Revolving Credit Facility (“Wells Fargo Facility”) Amendment

On June 23, 2025, Hudson Technologies Company (“HTC”) and Hudson Holdings, Inc. (“Holdings”), as borrowers (collectively, the “Borrowers”), and Hudson Technologies, Inc. (the “Company”) as a guarantor, entered into a Third Amendment to Amended and Restated Credit Agreement dated June 23, 2025 (the “Third Amendment”) with Wells Fargo Bank, National Association, as administrative agent and lender (“Agent” or “Wells Fargo”) and such other lenders as have or may thereafter become a party to the Wells Fargo Facility (the “Lenders”).

The Third Amendment reduced the amount of revolving borrowings that may be made under the existing Wells Fargo Facility from $75 million to $40 million, and also provided for the reduction of the letter of credit sublimit from $2 million to $1.5 million. The Third Amendment also amended certain other thresholds and sub-limits in the Wells Fargo Facility, as further specified therein.

The description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is filed as Exhibit 10.1 to this Report.

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Item 9.01 Financial Statements and Exhibits

(d)           Exhibits

Exhibit Number		Name of Exhibit
10.1		Third Amendment to Amended and Restated Credit Agreement dated June 23, 2025 by and among Wells Fargo Bank, National Association, as Agent, Hudson Technologies, Inc., and the Borrowers and Lenders party thereto
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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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.

Date: June 23, 2025

	HUDSON TECHNOLOGIES, INC.
	By:	/s/ Brian J. Bertaux
	Name:	Brian J. Bertaux
	Title:	Chief Financial Officer & Secretary

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FAQ

Why did Hudson Technologies (HDSN) file an 8-K on June 23, 2025?

To disclose a Third Amendment to its Wells Fargo revolving credit facility, which reduces borrowing and L/C limits.

How much was Hudson Technologies’ revolver reduced?

$40 million new maximum versus the prior $75 million.

What is the new letter-of-credit sub-limit for HDSN?

The L/C sub-limit declined to $1.5 million from $2 million.

Does the amendment include financial statements or earnings data?

No. The filing only addresses the amended credit agreement; no earnings metrics were provided.

Where can investors find the full credit amendment text?

It is attached as Exhibit 10.1 to the 8-K.