On March 17, 2026, Southland Holdings, Inc. entered into an Assignment and Assumption Agreement with Callodine Commercial Finance, LLC, which serves as the Resigning Agent under the existing Credit Agreement. This agreement involves the assignment of approximately $110 million in loans, with Southland Holdings paying around $15.4 million to the Resigning Agent for the benefit of the lenders involved. The transaction includes the transfer of rights and obligations related to the loans, which are secured by collateral. Concurrently, the delayed draw term loan commitment under the Credit Agreement has been terminated. Additionally, the Sureties have agreed to waive quarterly principal and monthly interest payments until maturity, allowing Southland to focus on disposing of idle equipment and pursuing claim collections to manage its debt obligations. The company is also in discussions with the Sureties regarding potential amendments to the Credit Agreement, although no assurances can be made regarding the outcome of these negotiations. This development is part of Southland's ongoing efforts to stabilize its financial position and ensure operational continuity in its projects.

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