PEDEVCO (PED) lifts credit facility borrowing base from $120M to $125M
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
PEDEVCO Corp. entered into a Third Amendment to its Amended and Restated Credit Agreement with Citibank and other lenders on May 19, 2026. The amendment increases the borrowing base and elected commitment amount under the credit facility from $120 million to $125 million, modestly expanding available credit. The redetermination executed by this amendment replaces the borrowing base review originally scheduled for on or about December 1, 2025, with the next redetermination planned for on or about July 1, 2026.
Positive
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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
Prior borrowing base: $120 million
New borrowing base: $125 million
Borrowing base increase: $5 million
+3 more
6 metrics
Prior borrowing base
$120 million
Borrowing base and elected commitment amount before Third Amendment
New borrowing base
$125 million
Borrowing base and elected commitment amount after Third Amendment
Borrowing base increase
$5 million
Incremental increase under Third Amendment to Credit Agreement
Third Amendment effective date
May 19, 2026
Effective date of Third Amendment to Credit Agreement
Original redetermination date
on or about December 1, 2025
Borrowing base redetermination replaced by the Third Amendment
Next redetermination date
on or about July 1, 2026
Next scheduled borrowing base redetermination under amended facility
Key Terms
Material Definitive Agreement, Credit Agreement, borrowing base, elected commitment amount, +1 more
5 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 with Citibank, N.A., as administrative agent"
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.
borrowing base financial
"increase the borrowing base and elected commitment amount from $120 million to $125 million"
A borrowing base is the amount a lender will allow a company to borrow based on the value of assets the company offers as security, typically things like accounts receivable and inventory. It matters to investors because it sets a practical ceiling on short-term financing and influences a company’s liquidity and risk: if the borrowing base falls, the company may lose access to cash or be forced to sell assets, which can affect operations and share value.
elected commitment amount financial
"increase the borrowing base and elected commitment amount from $120 million to $125 million"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What did PEDEVCO Corp. (PED) disclose in its latest Form 8-K?
PEDEVCO disclosed a Third Amendment to its Credit Agreement with Citibank and other lenders. The amendment modestly increases its borrowing base and elected commitment, slightly expanding the company’s available credit under its existing revolving credit facility.
How did PEDEVCO Corp. (PED) change its borrowing base and commitments?
The Third Amendment raises PEDEVCO’s borrowing base and elected commitment amount from $120 million to $125 million. This $5 million increase provides somewhat more liquidity capacity within the company’s established credit facility structure with its existing lender group.
Who are the parties to PEDEVCO Corp.’s Third Amendment to the Credit Agreement?
The Third Amendment is between PEDEVCO Corp. as borrower, Citibank, N.A. as administrative agent, each guarantor party, and each lender party. It modifies the previously executed Amended and Restated Credit Agreement originally dated October 31, 2025.
When does the next borrowing base redetermination occur for PEDEVCO (PED)?
The borrowing base redetermination implemented by the Third Amendment replaces one originally scheduled for about December 1, 2025. The next scheduled borrowing base redetermination is expected to occur on or about July 1, 2026 under the amended credit facility terms.
What SEC exhibits relate to PEDEVCO Corp.’s amended credit facility?
PEDEVCO listed the Amended and Restated Credit Agreement and its first, second, and third amendments as Exhibits 10.1 through 10.4. The Third Amendment itself is filed as Exhibit 10.4, with prior agreements incorporated by reference from earlier SEC filings.