Hallador Energy Company filed an 8-K on August 14, 2026, disclosing that it entered into a Third Amendment to its Credit Agreement on August 11, 2026, modifying the definition of EBITDA to permit certain add-backs related to power purchase agreement exclusivity payments.

Key Highlights

  • Amendment date: The Third Amendment to Credit Agreement was entered into on August 11, 2026.
  • Counterparties: The amendment is by and among Hallador Energy Company, Texas Capital Bank as administrative agent, and the lenders party thereto.
  • Original agreement: The underlying Credit Agreement is dated March 5, 2026, and has previously been amended by a First Amendment and a Second Amendment.
  • EBITDA modification: The Third Amendment permits the company to add back to EBITDA certain payments received in respect of power purchase agreement exclusivity agreements during the fiscal quarter ended June 30, 2026.
  • Add-back cap: The permitted add-back is limited to an aggregate amount not to exceed $10,000,000.
  • Direct financial obligation: The filing also references Item 2.03, incorporating the amendment as the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.

Hallador Energy's Third Credit Agreement Amendment and EBITDA Add-Back

According to the filing, Hallador Energy Company (NASDAQ:HNRG) entered into the Third Amendment to its Credit Agreement on August 11, 2026. The credit facility, originally dated March 5, 2026, involves Texas Capital Bank serving as administrative agent and an unspecified group of lenders. The Third Amendment follows two prior amendments to the same agreement, the filing stated.

The central change disclosed in the filing is a modification to how "EBITDA" is defined under the Credit Agreement. Specifically, the company reported that the Third Amendment permits Hallador Energy or its restricted subsidiaries to add back to EBITDA "certain payments received by the Company or its restricted subsidiaries in respect of power purchase agreement exclusivity agreements during the fiscal quarter ended June 30, 2026, in an aggregate amount not to exceed $10,000,000." The filing noted that this description "is a summary, and does not purport to be complete," with the full terms governed by the attached Exhibit 10.1.

The 8-K was signed by Eric Van Deman, Chief Accounting Officer of Hallador Energy Company, on August 14, 2026. The company is incorporated in Colorado and maintains its principal executive offices at 1183 East Canvasback Drive, Terre Haute, Indiana 47802, according to the filing.

What Was Disclosed

Hallador Energy disclosed the execution of a third amendment to its March 5, 2026 Credit Agreement, modifying the EBITDA definition to allow add-backs of up to $10,000,000 in power purchase agreement exclusivity payments received during the quarter ended June 30, 2026.