# EDGAR Filing Document

**Accession Number:** 0001084991
**File Stem:** 0001084991-23-000022
**Filing Date:** 2023-3
**Character Count:** 7323
**Document Hash:** 4cd2fe03b9472b1238e6b4d2171d5a79
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001084991-23-000022.hdr.sgml**: 20230307

**ACCESSION NUMBER**: 0001084991-23-000022

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230228

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230307

**DATE AS OF CHANGE**: 20230307

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATURAL GAS SERVICES GROUP INC
- **CENTRAL INDEX KEY:** 0001084991
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL, GAS FIELD SERVICES, NBC [1389]
- **IRS NUMBER:** 752811855
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31398
- **FILM NUMBER:** 23713801

**BUSINESS ADDRESS:**
- **STREET 1:** 404 VETERANS AIRPARK LANE
- **STREET 2:** SUITE 300
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79705
- **BUSINESS PHONE:** (432) 262-2700

**MAIL ADDRESS:**
- **STREET 1:** 404 VETERANS AIRPARK LANE
- **STREET 2:** SUITE 300
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79705

?xml version="1.0" ? ngs-20230228

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K/A**

***Amendment No.1***

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of Earliest Event Reported): February 28, 2023**

**NATURAL GAS SERVICES GROUP, INC.**

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| **Colorado** | **1-31398** | **75-2811855** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

**404 Veterans Airpark Lane, Suite 300**

**Midland, TX 79705**

(Address of Principal Executive Offices)

**(432) 262-2700**

(Registrant's Telephone Number, Including Area Code)

**N/A**

(Former Name or Former Address if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-14(c)).

---

| | | |
|:---|:---|:---|
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, Par Value $0.01 | NGS | NYSE |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

------

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

This Report on Form 8-K/A amends Natural Gas Services Group, Inc.'s Form 8-K dated February 28, 2023 and filed with the Securities and Exchange Commission on March 6, 2023 (the "Original 8-K"). Due to typographical errors, the following errors in the Original 8-K are hereby corrected:

The section entitled "Borrowing Base" inadvertently indicated that the eligible inventory amount is subject to a cap not to exceed $5 million. The corrected cap amount is $2.5 million. As corrected, that section reads as follows:

<u>Borrowing Base</u>. At any time before the maturity of the Amended and Restated Credit Agreement, we may draw, repay and re-borrow amounts available under the borrowing base up to the maximum aggregate availability discussed above. Generally, the borrowing base equals the sum of (a) 85% of eligible accounts receivable owed to the Company, plus (b) 50% of the eligible inventory, valued at the lower of cost or market value at such time, subject to a cap of this component not to exceed $2.5 million, plus (c) the lesser of (i) 95% of the net book value of the compressors that the Lender has determined are eligible for the extension of credit, valued at the lower of cost or market value with depreciation not to exceed 25 years, at such time and (ii) 80% of the net liquidation value percentage of the net book value of the eligible compressors that the Lender has determined are eligible for the extension of credit, valued at the lower of cost or market value with depreciation not to exceed 25 years, at such time, plus (d) 80% of the net book value, valued at the lower of cost (excluding any costs for capitalized interest or other non-cash capitalized costs) or market of the eligible new compressor fleet, minus (e) any required availability reserves determined by the Lender in its sole discretion. The Lender may adjust the borrowing base components if material deviations in the collateral are discovered in future audits of the collateral. As of January 31<sup>st</sup>, 2023, our allowable borrowing base was $134 million.

Also, the section entitled "Covenants" contained an error regarding the leverage ratio and the fixed charge coverage ratio that the Company must maintain. The final sentence of the "Covenants" section is hereby corrected and replaced in its entirety as follows:

"In addition, we are subject to certain financial covenants in the Amended and Restated Credit Agreement that require us to maintain (i) a leverage ratio lesser than or equal to 3.50 to 1.00 as of the last day of each fiscal quarter ending on or prior to December 31, 2024 and 3.25 to 1.00 for the fiscal quarter ending March 31, 2025 and for each fiscal quarter thereafter and (ii) a fixed charge coverage ratio greater than or equal to 1.25 to 1.00 as of the last day of each fiscal quarter."

**Item 9.01 Financial Statements and Exhibits.**

(d) <u>Exhibits</u>.

The following exhibits are included with this Current Report on Form 8-K:

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | **NATURAL GAS SERVICES GROUP, INC.** | **NATURAL GAS SERVICES GROUP, INC.** |
| Date: | March 7, 2023 | By: | /s/ Stephen C. Taylor |
|  |  |  | Stephen C. Taylor |
|  |  |  | Interim President & Chief Executive Officer |

---