Company: RMIX
Filing Date: 2025-11-12
Form Type: S-4
Source: 0001104659-25-110488
Chunk: 574

Company: Suncrete, Inc.
Filing Date: 2025-11-12
Form: S-4
Chunk 574
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 $4.2 million of borrowings outstanding under the Revolving Loan. In addition, a letter of credit in the amount of $0.4 million was outstanding, reducing the available borrowing

F-60

TABLE OF CONTENTS

NOTES TO CONSOLIDATED AND COMBINED FINANCIAL STATEMENTS capacity to $10.4 million. The letter of credit supports insurance-related obligations but does not require the posting of cash collateral. Accordingly, no restricted cash balance was recorded on the Balance Sheet. Covenants The Credit Agreement includes customary affirmative and negative covenants that restrict the Company’s ability to, among other things, incur additional indebtedness, create liens, make certain investments, pay dividends, and enter into sale-leaseback transactions, subject to customary exceptions. In addition, the agreement contains financial covenants, including a Consolidated Senior Leverage Ratio that must not exceed a specified threshold and a Fixed Charge Coverage Ratio that must exceed a specified minimum threshold. Both financial covenants are tested as of the end of each fiscal quarter. The Company was in compliance with all applicable financial and non-financial covenants as of December 31, 2024. Predecessor Loans On April 8, 2022, Eagle and Ram entered into loan agreements that established a revolving credit facility with a commitment and borrowing base of $2.0 million and five term loans totaling $31.8 million (“Predecessor Loans”). The Predecessor Loans were secured against a first lien on substantially all assets, including property, plant and equipment. The Predecessor Loans had varying maturity dates ranging from one year to ten years, at which time all advances were required to be paid in full. Interest accrued on the Prosperity Loans at a fixed rate of 3.7% and monthly payments of principal and interest were required until the maturity date of each loan. The Predecessor Loans were fully repaid upon consummation of the Concrete Acquisition on July 29, 2024. Amortization of Debt Issuance Costs At December 31, 2024, the Company had total unamortized debt issuance costs of $2.2 million, consisting of $2.0 million associated with the Term Loan and $0.2 million associated with the Revolving Loan. These amounts were capitalized during the Successor period in connection with the new credit facilities entered into on July 29, 2024. Amortization expense related to debt issuance costs was approximately $0.3 million for