Douglas Dynamics (PLOW) has released an update to notify the public and investors about an entry into a material definitive agreement.
Douglas Dynamics, Inc. and its wholly-owned subsidiaries secured a Credit Agreement providing a $225.0 million term loan and a $150.0 million revolving credit facility, which includes options for letters of credit and swingline loans. The agreement, which matures on June 9, 2026, also allows for an increase in revolving commitments or additional term loans up to $125.0 million. An amendment adjusted the minimum required Leverage Ratio for specific periods up to September 30, 2024, with further details available in various SEC filings.
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For a comprehensive understanding of the announcement, you can read the full document here.
