Hudson Technologies entered into an extension letter related to its interim waiver and second amendment to its term loan credit and security agreement.
According to a related 8-K filing, U.S. Bank served as administrative agent for the transaction.
The extension letter extends to November 14, 2018 the delivery deadline for the company to provide the term loan lenders with a certificate setting forth the total leverage ratio as of the four fiscal quarter period ending September 30, 2018.
Discussions are continuing with the term loan lenders with respect to an amendment of the term loan’s existing total leverage ratio financial covenant and certain other terms. As a result of potential balance sheet impact of foregoing discussions, the company has not been in a position to file its quarterly report on Form 10-Q for the quarter ended June 30, 2018.
The company is working diligently to resolve these matters and management believes that the company will be in a position to file the aforementioned 10-Q by November 14, 2018.
Hudson has submitted a listing compliance plan to Nasdaq in response to the August 15, 2018 deficiency letter the company received from Nasdaq.
Hudson Technologies is a provider of innovative and sustainable solutions for optimizing performance and enhancing reliability of commercial and industrial chiller plants and refrigeration systems.
