Mammoth Energy Services Enters Term Loans Of Up To $58M With Bank7

The Company expects to use proceeds from the facility to fund the acquisition of additional aviation assets.

The facility consists of a $25 million Term Loan A and a $33 million Term Loan B, each of which may be drawn during the 60-day period following closing. Advances under Term Loan B are subject to certain conditions. The loans bear interest at a floating rate, amortize monthly beginning in January 2027 and mature in October 2030. The facility is secured by the borrowers' aviation assets and is guaranteed by Mammoth. No amounts were drawn at closing.