Mammoth Energy Secures $58M Bank7 Loan for Aviation Fleet Growth
OKLAHOMA CITY – October 30, 2026 -- Mammoth Energy Services (NASDAQ: TUSK) has secured up to $58 million in senior secured term loans from Bank7 to buy more aviation assets. It is the first debt financing for a portfolio that has so far been funded without borrowing.
Two term loans of $25 million and $33 million carry a 60-day draw window
Mammoth's aviation subsidiaries, Cobra Aviation Services LLC and Leopard Aviation LLC, signed the loan and security agreement on October 28. The facility splits into a $25 million Term Loan A and a $33 million Term Loan B. Each can be drawn during the 60 days after closing, and advances under Term Loan B depend on certain conditions. No amounts were drawn at closing.
The loans carry a floating interest rate and amortize monthly from January 2027. They mature in October 2030. The borrowers' aviation assets secure the facility, and Mammoth guarantees it.