{"schema_version":"secwatch.filing_event.v1","accession":"0000080420-23-000041","form_type":"8-K","ticker":"POWL","cik":"0000080420","company_name":"POWELL INDUSTRIES INC","filed_at":"2023-10-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.044728+00:00","generated_at":"2026-06-10T01:54:04.151218+00:00","sec_items":["1.01","2.03"],"event_type":"debt","sentiment":"positive","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Powell Industries amends credit facility, increases revolver to $150M","bullets":["Third Amendment raises revolving credit line from $125M to $150M.","Texas Capital Bank added as Syndication Agent and lender.","Net leverage ratio calculation now allows deduction of up to $60M based on letters of credit and cash.","SOFR adjustment reduced to 10 bps; new liquidity covenant requires minimum $60M.","Added trigger event for customer surety bond claims of $40M or more."],"urls":{"canonical":"https://secwatch.observer/filing/0000080420-23-000041","json":"https://secwatch.observer/filing/0000080420-23-000041.json","markdown":"https://secwatch.observer/filing/0000080420-23-000041.md","text":"https://secwatch.observer/filing/0000080420-23-000041.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/80420/000008042023000041/0000080420-23-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/80420/000008042023000041/powl-20231004.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T01:54:04.151218+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"cd465bfa395cf6e589d8e4e66746fe26ffb56a34","claim":"POWELL INDUSTRIES INC amended revolving credit of $150,000,000 with Bank of America, N.A., as Administrative Agent, Swingline Lender, L/C Issuer and a Lender.","evidence_excerpt":"Amendment amended the U.S. Revolver by, among other things, (i) increasing the amount of the revolving line of credit extended to the Company thereunder from $125,000,000 to $150,000,000, (ii) adding Texas Capital Bank as Syndication Agent and a lender , (iii) amending certain terms related to the calculation of the Company’s consolidated net leverage ratio to","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/80420/000008042023000041/0000080420-23-000041-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$150,000,000"},{"label":"Counterparty","value":"Bank of America, N.A., as Administrative Agent, Swingline Lender, L/C Issuer and a Lender"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"6305f3ce9093aee81753e59eb9e5c6dacfc5c068","claim":"POWELL INDUSTRIES INC entered into Third Amendment to Amended and Restated Credit Agreement (U.S. Revolver) with Bank of America, N.A. valued at Increased revolving line of credit from $125,000,000 to $150,000,000 (effective 2023-10-04).","evidence_excerpt":"On October 4, 2023, the Company, together with certain of its direct subsidiaries, entered into a third amendment to the U.S. Revolver (the “Third Amendment”) with the lenders party thereto and Bank of America, as Administrative Agent, Swingline Lender, L/C Issuer and a Lender.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/80420/000008042023000041/0000080420-23-000041-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Value","value":"Increased revolving line of credit from $125,000,000 to $150,000,000"},{"label":"Effective","value":"2023-10-04"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}