secwatch.observer — SEC 8-K summary
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Issuer:     POWELL INDUSTRIES INC (POWL)
CIK:        0000080420
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0000080420-23-000020
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Powell Industries increases revolving credit facility from $75M to $125M
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- Revolving line of credit increased from $75M to $125M under second amendment to credit agreement.
- Interest rate spread amended to range from 0.00% to 2.00% based on consolidated net leverage ratio.
- Unused commitment fee set at 0.25% to 0.35% depending on leverage ratio.
- New liquidity covenant requires maintaining at least $50M of liquidity.
- Net leverage ratio calculation allows deduction of up to $50M based on letters of credit and unencumbered cash.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/0000080420-23-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/powl-20230331.htm
  HTML page:      https://secwatch.observer/filing/0000080420-23-000020

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