---
schema_version: "secwatch.filing_event.v1"
accession: "0000008063-23-000004"
form_type: "8-K"
ticker: "ATRO"
cik: "0000008063"
company_name: "ASTRONICS CORP"
filed_at: "2023-01-19T23:59:59+00:00"
generated_at: "2026-06-20T13:38:33.044588+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Astronics beats Q4 sales guidance, completes $205M refinancing

## Summary
- Preliminary Q4 sales $155M-$160M, above prior guidance of $140M-$150M; bookings $175M-$180M.
- Completed $205M refinancing: $90M term loan (SOFR+8.75%, matures 2027) and $115M revolver (SOFR+2.25%-2.75%, matures 2026).
- Post-closing liquidity ~$35M; FY 2023 revenue guidance reaffirmed at $640M-$680M.
- Weighted avg cash interest rate ~10%; minimum EBITDA covenants with increasing quarterly thresholds.

## SEC filing metadata
- accession: 0000008063-23-000004
- form_type: 8-K
- ticker: ATRO
- cik: 0000008063
- company_name: ASTRONICS CORP
- filed_at: 2023-01-19T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/0000008063-23-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/atro-20230119.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000008063-23-000004
- JSON: https://secwatch.observer/filing/0000008063-23-000004.json
- Plain text: https://secwatch.observer/filing/0000008063-23-000004.txt

## Key facts
- Debt Financings
  ASTRONICS CORP incurred term loan of $90 million with Great Rock Capital Partners Management, LLC, as Agent at SOFR (which shall be at least 2.50%) plus 8.75% maturing January 19, 2027.
  - Instrument: term loan
  - Principal: $90 million
  - Counterparty: Great Rock Capital Partners Management, LLC, as Agent
  - Rate: SOFR (which shall be at least 2.50%) plus 8.75%
  - Maturity: January 19, 2027
  - Event: incurrence
  source text: The Company also entered into a $90 million asset-based term loan Credit Agreement (the “Term Loan Agreement”) on January 19, 2023, with Great Rock Capital Partners Management, LLC, as Agent, and the lenders signatory thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/0000008063-23-000004-index.htm
- Debt Financings
  ASTRONICS CORP amended revolving credit of $115 million with HSBC Bank USA, National Association, as Agent and Co-Collateral Agent, Wells Fargo Bank, N.A., as Co-Collateral Agent at SOFR (which shall be at least 1.00%) plus 2.25% to 2.75% maturing January 19, 2026.
  - Instrument: revolving credit
  - Principal: $115 million
  - Counterparty: HSBC Bank USA, National Association, as Agent and Co-Collateral Agent, Wells Fargo Bank, N.A., as Co-Collateral Agent
  - Rate: SOFR (which shall be at least 1.00%) plus 2.25% to 2.75%
  - Maturity: January 19, 2026
  - Event: amendment
  source text: as Co-Collateral Agent, and the lenders signatory thereto. The Restated Agreement set the maximum aggregate amount that the Company can borrow under the revolving credit line at $115 million, with borrowings subject to a borrowing base determined primarily by inventory and accounts receivable. The Restated Agreement extended the scheduled maturity date from November
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/0000008063-23-000004-index.htm
- Earnings Releases
  ASTRONICS CORP reported the fourth quarter of 2022 results: revenue $155 million to $160 million.
  - Period: the fourth quarter of 2022
  - Revenue: $155 million to $160 million
  - Result: preliminary results
  source text: Astronics Corporation announced today that unaudited preliminary fourth quarter sales are expected to be in the range of $155 million to $160 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/0000008063-23-000004-index.htm
- Earnings Releases
  ASTRONICS CORP reported the year results: revenue $640 million to $680 million. Guidance reaffirmed.
  - Period: the year
  - Revenue: $640 million to $680 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: consistent with our earlier revenue guidance for the year of $640 million to $680 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/8063/000000806323000004/0000008063-23-000004-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.