Shoals Technologies adds $50M revolving credit

Shoals Technologies Group, Inc. amended its existing credit agreement to add a new tranche of incremental revolving loans with an aggregate principal amount of $50,000,000.

Rhea-AI Filing Summary

Shoals Technologies Group, Inc. amended its existing credit agreement to add a new tranche of incremental revolving loans with an aggregate principal amount of $50,000,000. This additional revolving capacity is available for 18 months from June 10, 2026 and carries substantially the same terms as the existing revolver.

The amendment also replaces the prior first lien secured leverage covenant with a maximum consolidated total leverage ratio of 4.00:1.00, with temporary higher limits if a material acquisition closes. Certain other covenants were updated in a manner described as customary for facilities of this type. The new loans may be prepaid at any time without premium or penalty.

Insights

Credit & capital structure analyst

Shoals adds $50M revolving capacity and updates leverage covenants.

Shoals Technologies Group amended its credit agreement to introduce $50,000,000 of incremental revolving loans for 18 months starting on June 10, 2026. These loans share substantially the same terms as the existing revolving facility and can be prepaid without premium or penalty.

The amendment revises the key financial covenant to a maximum consolidated total leverage ratio of 4.00:1.00, with temporary increases permitted after a material acquisition. This structure ties borrowing flexibility to overall leverage rather than first lien leverage, which is common for facilities of this type.

The filing describes other covenant changes as customary, suggesting no unusual restrictions are highlighted. Actual impact on liquidity and leverage will depend on how much of the new $50,000,000 capacity is drawn and whether any material acquisitions using this flexibility are completed.

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, or exhibit attachments filed with this report.

Key Figures

Incremental revolver size: $50,000,000 Availability period: 18 months Max total leverage ratio: 4.00:1.00 +1 more

4 metrics

Incremental revolver size $50,000,000 Aggregate principal amount of 2026 Incremental Revolving Loans

Availability period 18 months Availability of 2026 Incremental Revolving Loans after June 10, 2026

Max total leverage ratio 4.00:1.00 Maximum consolidated total leverage ratio under amended covenant

Effective Date June 10, 2026 Effective Date of Amendment No. 7 to Credit Agreement

Key Terms

Amendment No. 7, incremental revolving loans, maximum consolidated total leverage ratio, material acquisition, +1 more

5 terms

Amendment No. 7 financial

"entered into Amendment No. 7 (the “Amendment”) to the Credit Agreement"

incremental revolving loans financial

"provides for a new tranche of incremental revolving loans in an aggregate principal amount"

maximum consolidated total leverage ratio financial

"replaces the financial covenant ... with the maximum consolidated total leverage ratio of 4.00:1.00"

material acquisition financial

"with temporary increases to the maximum consolidated total leverage ratio in the event a material acquisition closes"

Collateral Agent financial

"Wilmington Trust, National Association, as Collateral Agent"

A collateral agent is a neutral third party that holds and manages the assets pledged to secure a loan on behalf of a group of lenders, acting like the keyholder to a shared safe. If the borrower falls behind, the collateral agent enforces the lenders’ rights and coordinates who gets what, which affects how quickly and how much lenders can recover. Investors care because the agent’s role shapes recovery prospects, enforcement speed and the clarity of lenders’ claims.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Shoals Technologies Group (SHLS) change in its credit agreement?

Shoals Technologies Group amended its credit agreement to add a new $50,000,000 tranche of incremental revolving loans. The amendment also updates leverage covenants, including a maximum consolidated total leverage ratio of 4.00:1.00, and adjusts other covenants described as customary for this type of facility.

How large is the new revolving credit capacity for Shoals Technologies (SHLS)?

The amendment provides a new tranche of incremental revolving loans with an aggregate principal amount of $50,000,000. This additional revolving capacity sits alongside Shoals Technologies’ existing revolving loans and has substantially the same terms, giving the company more flexibility to borrow as needed within the facility limits.

How long is Shoals Technologies’ new $50 million revolver tranche available?

The new $50,000,000 tranche of 2026 Incremental Revolving Loans is available for a period of 18 months after the Effective Date of June 10, 2026. During that 18‑month window, Shoals Technologies can draw and prepay amounts, with no premium or penalty for prepayments.

What leverage covenant now applies to Shoals Technologies (SHLS) under the amended agreement?

The amendment replaces the prior first lien secured leverage covenant with a maximum consolidated total leverage ratio of 4.00:1.00. The filing notes this ratio can be temporarily increased if a material acquisition closes, aligning covenant levels with larger transaction-related borrowing when such deals occur.

Can Shoals Technologies prepay the new 2026 Incremental Revolving Loans without penalty?

Yes. The filing states that the 2026 Incremental Revolving Loans may be prepaid at any time without premium or penalty. This means Shoals Technologies can repay outstanding amounts on the new $50,000,000 revolving tranche early without incurring additional fees for doing so.

Who are the key agents and parties in Shoals Technologies’ amended credit facility?

The amended credit agreement lists Wilmington Trust, National Association as Collateral Agent and JPMorgan Chase Bank, N.A. as Administrative Agent. Shoals Technologies is the borrower, with certain subsidiaries as guarantors, and the 2026 Incremental Revolving Lenders party to the new revolving tranche.

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

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Accepted by SEC EDGAR 06/11/2026 - 06:20 PM Learn about SEC filing dates

False000183165100018316512026-06-102026-06-10

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): June 10, 2026

——————————

Shoals Technologies Group, Inc.

(Exact name of registrant as specified in its charter)

——————————

Delaware

001-39942

85-3774438

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

1500 Shoals Way

Portland

Tennessee

37148

(Address of principal executive offices)

(Zip Code)

(615)

451-1400

(Registrant’s telephone number, including area code)

——————————

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

Class A Common Stock, $0.00001 Par Value

SHLS

Nasdaq Global 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 June 10, 2026 (the “Effective Date”), Shoals Technologies Group, Inc. (the “Company”), as borrower, and certain of its subsidiaries entered into Amendment No. 7 (the “Amendment”) to the Credit Agreement, dated as of November 25, 2020, with Wilmington Trust, National Association, as Collateral Agent, JPMorgan Chase Bank, N.A., as Administrative Agent, and each L/C issuer and lender from time to time party thereto (as amended prior to the Effective Date, the “Existing Credit Agreement,” and as amended from time to time, the “Amended Credit Agreement”).

The Amendment, among other things, (i) provides for a new tranche of incremental revolving loans in an aggregate principal amount of $50,000,000 (the “2026 Incremental Revolving Loans”) for a period of 18 months after the Effective Date, (ii) replaces the financial covenant for the maximum consolidated first lien secured leverage ratio permitted under the Amended Credit Agreement with the maximum consolidated total leverage ratio of 4.00:1.00 (with temporary increases to the maximum consolidated total leverage ratio in the event a material acquisition closes), and (iii) amends certain other covenants under the Amended Credit Agreement in a manner customary for facilities of this type.

The 2026 Incremental Revolving Loans have substantially the same terms as the existing revolving loans, except as summarized herein. The 2026 Incremental Revolving Loans may be prepaid at any time, without premium or penalty.

The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.

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

The information set forth under Item 1.01 is incorporated by reference to this Item 2.03.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are filed herewith:

Exhibit No.						Description
10.1						Amendment No. 7 to Credit Agreement, dated as of June 10, 2026, between Shoals Technologies Group, Inc., as Borrower, the guarantors party thereto, Wilmington Trust, National Association, as Collateral Agent, JPMorgan Chase Bank, N.A., as Administrative Agent and the 2026 Incremental Revolving Lenders.
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.

Shoals Technologies Group, Inc.
By:			/s/ Dominic Bardos
			Name:						Dominic Bardos
			Title:						Chief Financial Officer

Date: June 11, 2026

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 920.3 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 21.1 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 12.2 KB