Longer, cheaper credit for NWPX Infrastructure (NASDAQ: NWPX) through 2030

Rhea-AI Filing Summary

NWPX Infrastructure, Inc. entered into a Fourth Amendment to its credit agreement with Wells Fargo and other lenders, extending the credit facility’s maturity from June 29, 2028 to August 13, 2030 and reducing pricing.

The amended agreement provides a revolving loan, swingline loan, and letters of credit in an aggregate amount of up to $125 million, with an option to increase the facility by $50 million subject to its terms. Revolving loans can bear interest at a Base Rate, Adjusted Daily Simple SOFR, or Adjusted Term SOFR, in each case plus an Applicable Margin ranging from 0.50% to 2.00%, depending on the company’s consolidated senior leverage ratio and rate choice.

The company will also pay a commitment fee between 0.20% and 0.25% on unused revolver commitments, plus customary fees for a facility of this type.

Insights

Credit & Capital Structure Analyst

Extending and repricing the $125M facility modestly strengthens funding flexibility.

NWPX Infrastructure, Inc. negotiated a Fourth Amendment that pushes its credit facility maturity from June 29, 2028 to August 13, 2030 while reducing pricing. The facility size remains up to $125 million, with the option to increase by an additional $50 million under the agreement’s provisions.

Interest now ties to Base Rate or SOFR benchmarks plus an Applicable Margin of 0.50% to 2.00%, set by the company’s consolidated senior leverage ratio and rate choice. A commitment fee of 0.20% to 0.25% applies to unused revolver commitments, alongside customary fees.

This amendment extends access to revolving, swingline, and letter-of-credit financing with clearer cost tiers through August 13, 2030. The overall impact depends on how much of the facility the company uses and its leverage metrics over time.

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.

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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): August 13, 2025

NWPX Infrastructure, Inc.

(Exact name of registrant as specified in its charter)

Oregon		0-27140		93-0557988
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

201 NE Park Plaza Drive, Suite 100

Vancouver, WA 98684

(Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code: 360‑397‑6250

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, par value $0.01 per share	NWPX	Nasdaq Global Select Market

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 13, 2025, NWPX Infrastructure, Inc. and its wholly-owned subsidiaries NWPC, LLC, Geneva Pipe and Precast Company, and Park Environmental Equipment, LLC (together, the “Company”), along with certain of the Company’s other wholly-owned subsidiaries, entered into a Fourth Amendment to Credit Agreement and Ratification of Loan Documents (the “Fourth Amendment”) with Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent, and the lenders from time to time party thereto, including the initial sole lender, Wells Fargo (the “Lenders”) to, among other modifications, extend the maturity date from June 29, 2028 to August 13, 2030 and reduce the pricing.
	The Credit Agreement dated June 30, 2021 with Wells Fargo, as administrative agent, and the lenders from time to time party thereto, including the Lenders, as amended by the Incremental Amendment dated October 22, 2021, the Second Amendment to Credit Agreement dated April 29, 2022, the Third Amendment to Credit Agreement dated June 29, 2023, and the Fourth Amendment (together, the “Amended Credit Agreement”) provides for a revolving loan, swingline loan, and letters of credit in the aggregate amount of up to $125 million, with an option for the Company to increase that amount by $50 million, subject to the provisions of the Amended Credit Agreement.
	Revolving loans under the Amended Credit Agreement bear interest at rates related to, at our option and subject to the provisions of the Amended Credit Agreement, either: (i) Base Rate (as defined in the Amended Credit Agreement) plus the Applicable Margin; (ii) Adjusted Daily Simple Secured Overnight Finance Rate (“SOFR”) (as defined in the Amended Credit Agreement) plus the Applicable Margin; or (iii) Adjusted Term SOFR (as defined in the Amended Credit Agreement) plus the Applicable Margin. The “Applicable Margin” is 0.50% to 2.00%, depending on our Consolidated Senior Leverage Ratio (as defined in the Amended Credit Agreement) and the interest rate option chosen. Interest on outstanding revolving loans is payable monthly in arrears. Swingline loans under the Amended Credit Agreement bear interest at the Base Rate plus the Applicable Margin. The Amended Credit Agreement requires the payment of a commitment fee of between 0.20% and 0.25%, based on the amount by which the Revolver Commitment exceeds the average daily balance of outstanding borrowings (as defined in the Amended Credit Agreement). Such fee is payable monthly in arrears. We are also obligated to pay additional fees customary for credit facilities of this size and type.
	The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Fourth Amendment, which is filed herewith as Exhibit 10.1 to this Report, and is incorporated herein by reference. A more detailed description of the Credit Agreement dated June 30, 2021 is available in the Company’s Current Report on Form 8‑K filed with the Securities and Exchange Commission on July 7, 2021. A more detailed description of the Incremental Amendment dated October 22, 2021 is available in the Company’s Current Report on Form 8‑K filed with the Securities and Exchange Commission on October 28, 2021. A more detailed description of the Second Amendment to Credit Agreement dated April 29, 2022 is available in the Company’s Form 10‑Q for the quarter ended March 31, 2022 filed with the Securities and Exchange Commission on May 6, 2022. A more detailed description of the Third Amendment to Credit Agreement dated June 29, 2023 is available in the Company’s Current Report on Form 8‑K filed with the Securities and Exchange Commission on July 3, 2023.

Item 2.03	CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEEET ARRANGEMENT OF A REGISTRANT
	The information in Item 1.01 above is hereby incorporated by reference into this Item 2.03.

Item 9.01.	FINANCIAL STATEMENTS AND EXHIBITS
(d)	Exhibits
10.1	Fourth Amendment to Credit Agreement and Ratification of Loan Documents dated as of August 13, 2025, by and among NWPX Infrastructure, Inc., NWPC, LLC, Geneva Pipe and Precast Company, Park Environmental Equipment, LLC, certain other subsidiaries of NWPX Infrastructure, Inc., and Wells Fargo Bank, National Association *
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)
*	Schedules and similar attachments to the Fourth Amendment have been omitted pursuant to Instruction 4 to Item 1.01 of the Form 8‑K. The Registrant will furnish supplementally a copy of any omitted schedule or similar attachment to the Securities and Exchange Commission request.

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 on August 19, 2025.

	NWPX INFRASTRUCTURE, INC.
	(Registrant)
	By	/s/ Aaron Wilkins
		Aaron Wilkins Senior Vice President, Chief Financial Officer, and Corporate Secretary

FAQ

What did NWPX Infrastructure, Inc. change in its latest credit agreement amendment?

NWPX Infrastructure, Inc. entered into a Fourth Amendment to its credit agreement with Wells Fargo and other lenders to extend the maturity date to August 13, 2030 and reduce the facility’s pricing.

How large is NWPX (NWPX) Infrastructure’s amended credit facility?

The amended credit agreement provides for a revolving loan, swingline loan, and letters of credit in an aggregate amount of up to $125 million, with an option to increase that amount by $50 million subject to the agreement.

What interest rates apply under NWPX Infrastructure’s amended credit facility?

Revolving loans bear interest at, at the company’s option, Base Rate, Adjusted Daily Simple SOFR, or Adjusted Term SOFR, each plus an Applicable Margin of 0.50% to 2.00% based on the consolidated senior leverage ratio and rate option.

What fees does NWPX Infrastructure pay on the amended credit facility?

The company pays a commitment fee between 0.20% and 0.25% on the amount by which the revolver commitment exceeds the average daily balance of outstanding borrowings, payable monthly in arrears, plus additional customary fees.

Which subsidiaries of NWPX Infrastructure are parties to the Fourth Amendment?

Parties to the Fourth Amendment include NWPX Infrastructure, Inc., its wholly owned subsidiaries NWPC, LLC, Geneva Pipe and Precast Company, Park Environmental Equipment, LLC, and certain other wholly owned subsidiaries.

Who is the administrative agent and initial lender for NWPX Infrastructure’s credit facility?

Wells Fargo Bank, National Association serves as administrative agent, and the lenders party to the agreement include Wells Fargo as the initial sole lender.