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Aly Energy Services Inc (ALYE.PK)

ALYE.PK on OTC Markets Group

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Aly Energy Services, Inc completes equity raise, enters into amendment to credit agreement
Monday, 19 Oct 2015 09:15am EDT 

Aly Energy Services, Inc:Says effective Sept. 30 it has closed an equity subscription resulting in net proceeds of $3.35 mlnn and entered into a second amendment to its credit agreement.Entered into a second amendment to its existing credit facility effective Sept. 30.Amendment waives Company's default as of June 30 and modifies the financial covenants which will be tested through the maturity date of April 30, 2017.Amendment waives all further principal payments on the remaining $20.1 million of outstanding term borrowings until March 31, 2017 and reduces the size of the revolving credit facility through the maturity date of April 30, 2015 to $1.0 mln.  Full Article

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