secwatch.observer — SEC 8-K summary
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Issuer:     1st FRANKLIN FINANCIAL CORP (—)
CIK:        0000038723
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0000038723-24-000059
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 2.03, 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

1st Franklin Financial amends loan covenant to min EBITDA ratio of 1.25x; pays $69K fee
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- Entered Seventh Amendment to Loan and Security Agreement with Wells Fargo as agent.
- EBITDA Ratio covenant set at not less than 1.25 to 1.0, effective March 31, 2024.
- Paid $69,000 amendment fee to lenders as condition of effectiveness.
- Reconfirmed security interests, indebtedness, and no default or known claims.
- Lenders include Wells Fargo, First Horizon Bank, and Renasant Bank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38723/000003872324000059/0000038723-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38723/000003872324000059/na-20240401.htm
  HTML page:      https://secwatch.observer/filing/0000038723-24-000059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer