Hallador Energy Company (HNRG) revises EBITDA definition under amended credit facility

Q: What did Hallador Energy Company (HNRG) change in its credit agreement?

Hallador Energy Company entered into a Third Amendment to its Credit Agreement , revising the definition of EBITDA. The change lets the company add back specified payments from power purchase agreement exclusivity agreements for covenant-calculation purposes.

Q: How much can Hallador Energy (HNRG) add back to EBITDA under the new amendment?

Hallador may add back up to $10,000,000 to EBITDA. This relates to payments received in the quarter ended June 30, 2026 from power purchase agreement exclusivity agreements by the company or its restricted subsidiaries.

Q: Which parties are involved in Hallador Energy’s (HNRG) Third Amendment to the Credit Agreement?

The Third Amendment is among Hallador Energy Company , Texas Capital Bank as administrative agent, and the lenders party to the agreement. It further amends the original March 5, 2026 Credit Agreement and prior amendments.

Q: What type of agreements are referenced in the new EBITDA definition for HNRG?

The revised EBITDA definition references power purchase agreement exclusivity agreements . Payments received under these exclusivity agreements in the June 30, 2026 quarter can be added back to EBITDA, up to the stated limit.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Hallador Energy Company entered into a Third Amendment to its Credit Agreement with Texas Capital Bank, as administrative agent, and the participating lenders. The amendment changes the definition of EBITDA to allow Hallador to add back to EBITDA certain payments received by the company or its restricted subsidiaries under power purchase agreement exclusivity agreements during the fiscal quarter ended June 30, 2026, in an aggregate amount not to exceed $10,000,000. This modification affects how EBITDA is calculated for purposes of the existing credit facility’s terms and covenants.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

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.

Key Figures

EBITDA addback cap: $10,000,000

1 metrics

EBITDA addback cap $10,000,000 Maximum aggregate payments from power purchase agreement exclusivity agreements addable to EBITDA for quarter ended June 30, 2026

Key Terms

Material Definitive Agreement, Credit Agreement, EBITDA, power purchase agreement exclusivity agreements

4 terms

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.

Credit Agreement financial

"Third Amendment to Credit Agreement dated as of August 11, 2026"

A credit agreement is a written loan contract between a borrower and a bank or other lender that lays out how much money can be borrowed, the interest rate, repayment schedule, fees, and the rules the borrower must follow. For investors, it matters because those terms affect a company’s cash costs, borrowing flexibility and risk of default — similar to how a mortgage’s rules determine a homeowner’s monthly budget and freedom to make changes.

EBITDA financial

"modifies the definition of "EBITDA" set forth in the Credit Agreement"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

power purchase agreement exclusivity agreements technical

"payments received in respect of power purchase agreement exclusivity agreements"

FAQ

What did Hallador Energy Company (HNRG) change in its credit agreement?

Hallador Energy Company entered into a Third Amendment to its Credit Agreement, revising the definition of EBITDA. The change lets the company add back specified payments from power purchase agreement exclusivity agreements for covenant-calculation purposes.

How much can Hallador Energy (HNRG) add back to EBITDA under the new amendment?

Hallador may add back up to $10,000,000 to EBITDA. This relates to payments received in the quarter ended June 30, 2026 from power purchase agreement exclusivity agreements by the company or its restricted subsidiaries.

Which parties are involved in Hallador Energy’s (HNRG) Third Amendment to the Credit Agreement?

The Third Amendment is among Hallador Energy Company, Texas Capital Bank as administrative agent, and the lenders party to the agreement. It further amends the original March 5, 2026 Credit Agreement and prior amendments.

What type of agreements are referenced in the new EBITDA definition for HNRG?

The revised EBITDA definition references power purchase agreement exclusivity agreements. Payments received under these exclusivity agreements in the June 30, 2026 quarter can be added back to EBITDA, up to the stated limit.

Does Hallador Energy’s (HNRG) 8-K report any new off-balance sheet obligations?

The company incorporates the Third Amendment disclosure into the item concerning direct financial obligations or off-balance sheet arrangements. The focus is on the revised EBITDA treatment within the existing Credit Agreement framework.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Understanding 8-K Material Events →

Available on EDGAR 08/14/2026 - 04:39 PM Accepted by SEC EDGAR 08/14/2026 - 04:35 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): August 11, 2026

Hallador Energy Company

(Exact name of registrant as specified in its charter)


Colorado	001-34743	84-1014610
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1183 East Canvasback Drive, Terre Haute, Indiana 47802

(Address, including zip code, of principal executive offices)

Registrant’s telephone number, including area code: (812) 299-2800.

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 class	Trading Symbol	Name of each exchange on which registered
Common Shares, $.01 par value	HNRG	Nasdaq

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

On August 11, 2026, Hallador Energy Company (the “Company”) entered into a Third Amendment to Credit Agreement (the “Third Amendment”), by and among the Company, Texas Capital Bank, as administrative agent (the “Administrative Agent”), and the lenders party thereto (the “Lenders”), which amends the Credit Agreement, dated as of March 5, 2026, among the Company, the Administrative Agent and the Lenders party thereto (as amended by the First Amendment, the Second Amendment, and as further amended by the Third Amendment, the “Credit Agreement”).

The Third Amendment modifies the definition of "EBITDA" set forth in the Credit Agreement to, among other things, permit the Company to add back to EBITDA certain payments received by the Company or its restricted subsidiaries in respect of power purchase agreement exclusivity agreements during the fiscal quarter ended June 30, 2026, in an aggregate amount not to exceed $10,000,000.

The foregoing description of the Amendment is a summary, and does not purport to be complete, and is subject to, and qualified in its entirety by reference to, the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

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

The information set forth in Item 1.01 above is hereby incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.	Description
10.1	Third Amendment to Credit Agreement dated as of August 11, 2026.
104	Cover 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.


		Hallador Energy Company



August 14, 2026	By:	/s/ERIC VAN DEMAN
		Eric Van Deman Chief Accounting Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

EX-10.1 EX-10.1 38.9 KB