Business
Shoals Technologies Group, Inc. Increases Revolving Credit Facility to $150 Million
PORTLAND, Tenn., May 04, 2022 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical
About this update from Shoals Technologies Group, Inc.
[{"type":"text","content":"PORTLAND, Tenn., May 04, 2022 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical balance of system (“EBOS”) solutions for solar, battery storage and electric vehicle charging infrastructure, today announced that it has increased the size of its existing revolving credit facility by $50 million to $150 million pursuant to a fifth amendment to its Credit Agreement with Wilmington Trust, National Association, as Term Loan Administrative Agent and Collateral Agent, JPMorgan Chase Bank, N.A., as Revolving Facility Administrative Agent, and each L/C Issuer and lender from time to time party thereto. The transaction closed on May 2, 2022. “The upsized credit facility will provide additional financial flexibility to support our growth and strategic initiatives and optimize our balance sheet as we continue building our business,” said Jason Whitaker, Chief Executive Officer. About Shoals Technologies Group, Inc.Shoals Technologies Group, Inc. is a leading provider of electrical balance of system (“EBOS”) solutions for solar, battery storage and electric vehicle charging infrastructure. The Company’s mission is to provide innovative products that reduce the cost of installation while improving system performance, reliability and safety. At least one Shoals’ product was used on more than half of the solar energy projects installed in the U.S. in 2020. To learn more about Shoals, please visit the company's website at https://www.shoals.com. Contacts Investors:Email: [email protected] Phone: 615-323-9836 Media:Email: [email protected] Forward-Looking Statements This report contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “...