Karman Holdings (NYSE: KRMN) boosts revolver to $150,000,000 and removes $50,000,000 cap

Rhea-AI Filing Summary

Karman Holdings Inc. amended its main credit agreement by entering into a Fourth Amendment with Citibank and other lenders. The amendment increases the company’s revolving credit commitments by $100,000,000, bringing total revolving commitments to $150,000,000, and removes the prior $50,000,000 cap on incremental revolving credit commitments.

Insights

Credit & Capital Structure Analyst

Karman expanded its revolving credit capacity to $150,000,000, improving available liquidity.

Karman Holdings Inc. has amended its existing Credit Agreement to increase revolving credit commitments by $100,000,000, taking total revolving commitments to $150,000,000. It also removed the previous $50,000,000 cap on incremental revolving credit commitments.

This change enlarges committed borrowing capacity under the same overall agreement, with other terms stated to remain the same. The amendment was executed with Citibank, N.A. as Administrative and Collateral Agent and the other existing parties, indicating continuity of lender relationships.

The practical effect is additional access to revolving credit, which can support working capital or other corporate needs, depending on future usage. Subsequent filings may provide more detail on how much of this expanded revolving capacity the company actually draws over time.

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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): March 9, 2026

KARMAN HOLDINGS INC.

(Exact name of registrant as specified in its charter)

Delaware		001-42520		85-2660232
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

5351 Argosy Avenue
Huntington Beach, California		92649
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (714) 898-9951

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(s)		Name of each exchange on which registered
Common Stock, $0.001 Par Value		KRMN		New York Stock Exchange

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 March 9, 2026, Karman Holdings Inc. (the “Company”) entered into a Fourth Amendment to its Credit Agreement (the “Fourth Amendment”), which amends the Credit Agreement, dated as of April 1, 2025 (as amended by the First Amendment to Credit Agreement, dated as of May 27, 2025, Second Amendment to Credit Agreement, dated as of October 24, 2025 and Third Amendment to Credit Agreement, dated as of February 2, 2026) by and among the Company, Citibank, N.A., as Administrative Agent and Collateral Agent (“Citibank”), and the other parties thereto (as amended, the “Credit Agreement”).

Under the terms of the Fourth Amendment, the Company (i) increased the revolving credit commitments by $100,000,000 such that the total revolving credit commitments are now $150,000,000 and (ii) removed the cap on incremental revolving credit commitments, which was previously $50,000,000.

The foregoing description of the Fourth Amendment does not purport to be complete and is subject to, and qualified in its entirety by, reference to the Fourth Amendment, a copy of which is attached hereto and filed as Exhibit 10.1 and incorporated herein by reference. Except as modified by the Fourth Amendment, the terms and conditions in the Credit Agreement remain the same as previously disclosed.

ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.

Please see Item 1.01 above, which information is incorporated by reference into this Item 2.03.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

Exhibit No.		Description
10.1		FOURTH AMENDMENT TO CREDIT AGREEMENT
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

SIGNATURE

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.

Karman Holdings, Inc.
By:		/s/ Mike Willis
		Mike Willis
		Chief Financial Officer

Date: March 13, 2026

FAQ

What did Karman Holdings Inc. (KRMN) change in its credit agreement?

Karman Holdings Inc. entered into a Fourth Amendment to its Credit Agreement. The amendment increases revolving credit commitments to $150,000,000 and removes a $50,000,000 cap on incremental revolving credit commitments, while leaving other previously disclosed terms and conditions in place.

How much did Karman Holdings (KRMN) increase its revolving credit commitments?

Karman Holdings increased its revolving credit commitments by $100,000,000. This brings total revolving credit commitments under the amended Credit Agreement to $150,000,000, expanding the company’s committed borrowing capacity with its existing lending group led by Citibank, N.A.

What cap was removed in Karman Holdings’ (KRMN) Fourth Amendment to the Credit Agreement?

The Fourth Amendment removed the cap on incremental revolving credit commitments. Previously, incremental revolving commitments were limited to $50,000,000, and eliminating this cap allows for additional incremental revolving capacity under the same Credit Agreement structure, subject to its other terms.

Who is the administrative agent under Karman Holdings’ amended Credit Agreement?

Citibank, N.A. serves as Administrative Agent and Collateral Agent under Karman Holdings’ Credit Agreement. The Fourth Amendment continues this role for Citibank, N.A., alongside the other parties to the agreement, maintaining the existing lender framework while adjusting revolving credit commitments.

Do other terms of Karman Holdings’ Credit Agreement change with the Fourth Amendment?

The company states that, except as modified by the Fourth Amendment, the terms and conditions of the Credit Agreement remain the same. This means only the revolving commitment amount and the incremental revolving commitment cap are specifically changed, preserving previously disclosed agreement provisions.

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 54.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 17.6 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.0 KB