---
schema_version: "secwatch.filing_event.v1"
accession: "0000779544-23-000015"
form_type: "8-K"
ticker: "ARKR"
cik: "0000779544"
company_name: "ARK RESTAURANTS CORP"
filed_at: "2023-04-05T23:59:59+00:00"
generated_at: "2026-06-17T06:08:33.899241+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Ark Restaurants enters $10M revolving credit facility with Bank Hapoalim, extends to May 2025

## Summary
- Revolving credit facility commitment of $10,000,000 with Bank Hapoalim B.M.
- Commitment termination date extended to May 31, 2025.
- Interest rate options: Term SOFR + 3.65% or prime rate + 0.45%.
- Unused line fee of 0.30% per annum on available commitments.
- Security interest granted in substantially all assets under Second A&R Security Agreement.

## SEC filing metadata
- accession: 0000779544-23-000015
- form_type: 8-K
- ticker: ARKR
- cik: 0000779544
- company_name: ARK RESTAURANTS CORP
- filed_at: 2023-04-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/779544/000077954423000015/0000779544-23-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/779544/000077954423000015/arkr-20230330.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000779544-23-000015
- JSON: https://secwatch.observer/filing/0000779544-23-000015.json
- Plain text: https://secwatch.observer/filing/0000779544-23-000015.txt

## Key facts
- Debt Financings
  ARK RESTAURANTS CORP amended credit facility of $10,000,000 with Bank Hapoalim B.M. at Term SOFR Rate plus 3.65% or prime rate plus 0.45% maturing 2025-05-31.
  - Instrument: credit facility
  - Principal: $10,000,000
  - Counterparty: Bank Hapoalim B.M.
  - Rate: Term SOFR Rate plus 3.65% or prime rate plus 0.45%
  - Maturity: 2025-05-31
  - Event: amendment
  source text: the 2018 Credit Agreement primarily to (i) extend the Commitment Termination Date to May 31, 2025, (ii) provide for a revolving credit facility with a commitment amount of $10,000,000 and (iii) remove and replace the interest rate benchmark based on the London interbank offered rate (“LIBOR”) and related LIBOR-based mechanics with an interest rate benchmark
  evidence_url: https://www.sec.gov/Archives/edgar/data/779544/000077954423000015/0000779544-23-000015-index.htm
- Material Agreements
  ARK RESTAURANTS CORP amended Second Amended and Restated Credit Agreement with Bank Hapoalim B.M. valued at $10,000,000 (effective 2023-03-30).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank Hapoalim B.M.
  - Value: $10,000,000
  - Effective: 2023-03-30
  source text: On March 30, 2023, Ark Restaurants Corp., a New York corporation (the “Company”), entered into a Second Amended and Restated Credit Agreement, dated as of March 30, 2023, by and between the Company, as borrower, and Bank Hapoalim B.M. (“BHBM”), as lender (the “2023 Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/779544/000077954423000015/0000779544-23-000015-index.htm

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