PEDEVCO Corp. entered into a Second Amendment to its Credit Agreement, modifying EBITDAX definitions, borrowing base redetermination schedule, and reserve report delivery.
Key takeaways
Second Amendment to Credit Agreement executed on May 5, 2026, with Citibank as administrative agent.
EBITDAX definition amended to cap transaction cost add-backs at greater of $6M or 5% of borrowing base.
Borrowing base redetermination schedule revised to next on July 1, 2026, then semi-annual.
Reserve report delivery schedule updated to next on June 1, 2026, then semi-annual.
Annualization of EBITDAX for Test Periods through September 30, 2026, to transition to trailing twelve-month calculation.