Smart Sand, Inc. Enters into First Amendment to Credit Agreement and Incremental Assumption Agreement; Promotes William John Young to Chief Operating Officer
April 12, 2018 at 05:17 pm EDT
Share
Smart Sand, Inc. entered into a $45 million three-year senior secured revolving credit facility (the Facility") on December 8, 2016. The Facility contained a credit agreement among the Company, as the borrower, the lenders party thereto, and Jefferies Finance LLC, as administrative agent and collateral agent (the Agent"). On April 6, 2018, the company and certain of its subsidiaries entered into a First Amendment to Credit Agreement and Incremental Assumption Agreement (the Amendment") with the lenders party thereto and the Agent. The purpose of the Amendment is to increase the amount available under the Facility by $15 million to $60 million. The company agreed to pay the fees and expenses of the Agent incurred in connection with the Amendment.
On April 9, 2018, the board of directors of the company promoted William John Young to the position of Chief Operating Officer of the company.
Smart Sand, Inc. is a fully integrated frac and industrial sand supply and services company. The Company offers complete mine to wellsite proppant supply and logistics solutions to its frac sand customers. The Company produces Northern White sand, which is a sand used as proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells and for a variety of industrial applications. It also offers proppant logistics solutions to its customers through its in-basin transloading terminals and its SmartSystems well-site proppant storage capabilities. Through its SmartSystems wellsite proppant storage solutions, it offers the SmartDepot and SmartDepotXL silo systems, SmartPath transloader, and its rapid deployment trailers. Its SmartDepot silos include passive and active dust suppression technology, along with the capability of a gravity-fed operation. The Companyâs SmartPath transloader is a mobile sand transloading system.
Smart Sand, Inc. Enters into First Amendment to Credit Agreement and Incremental Assumption Agreement; Promotes William John Young to Chief Operating Officer
SMART SAND, INC. 
