Business
Stabilis Solutions Announces New $10 Million Revolving Credit Facility
HOUSTON, TX / ACCESSWIRE / June 12, 2023 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of clean energy
About this update from Stabilis Solutions, Inc.
[{"type":"text","content":"HOUSTON, TX / ACCESSWIRE / June 12, 2023 / Stabilis Solutions, Inc., (\"Stabilis\" or the \"Company\") (NASDAQ:SLNG), a leading provider of clean energy production, storage, and delivery solutions, today announced that it has successfully arranged a new, $10 million secured revolving credit facility (the \"Facility\") with Cadence Bank. The Facility, which matures in June 2026, includes a $5 million accordion provision, subject to lender approval. The Facility is subject to a borrowing base of eligible accounts receivable. There are currently no borrowings outstanding on the Facility.Under the terms of the Loan Agreement, all borrowings are secured by the accounts receivable and deposit accounts of Stabilis and its wholly owned subsidiaries.\"The closing of this credit facility in this dynamic financial environment is a testament to our lender relationship and their underlying confidence in our business model,\" stated Andy Puhala, SVP and Chief Financial Officer of Stabilis. \"This facility will provide Stabilis with additional liquidity and greater operating flexibility to further leverage our unique portfolio of LNG and other clean, emerging fueling solutions, consistent with our stated strategic focus.\"ABOUT STABILIS SOLUTIONSStabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com.FORWARD-LOOKING STATEMENTSThis press release includes \"forward-looking statements\" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as \"can,\" \"believes,\" \"feels,\" \"anticipates,\" \"expects,\" \"could,\" \"will,\" \"plan,\" \"may,\" \"should,\" \"predicts,\" \"potential,\" \"outlook\" and similar expressions are intended to identify such forward-looking statements.Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information curren...