SIFCO enters Eighth Amendment to Credit Agreement, reduces borrowing base reserves to $1.5M

SIFCO INDUSTRIES INC

Reserves under Borrowing Base reduced to $1,500,000, may be further lowered at Lender's sole discretion.
Borrowing base advance rates unchanged: 85% of eligible accounts, lesser of 70% of inventory or 85% of NOLV percentage.
Company and Quality Aluminum Forge reaffirm representations and warranties; no default after amendment.
Amendment dated November 8, 2023, with JPMorgan Chase as Lender.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SIFCO INDUSTRIES INC amended Eighth Amendment with JPMorgan Chase Bank, N.A. (effective 2023-11-08).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-11-08

Exact text from the filing

On November 8, 2023, SIFCO Industries, Inc. (the “Company”) and certain of its subsidiaries (collectively, the “borrowers”) entered into the Eighth Amendment (the “Eighth Amendment”) to the Credit Agreement (as previously amended, the “Credit Agreement”), with JPMorgan Chase Bank, N.A., a national banking association (the “Lender”).

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Source: SEC EDGAR

accession 0000090168-23-000066

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