secwatch.observer — SEC 8-K summary
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Issuer:     HARMONIC INC. (HLIT)
CIK:        0000851310
Form:       8-K
Filed at:   2023-10-04T23:59:59+00:00
Accession:  0000851310-23-000087
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Harmonic enters $30M receivables sale facility and amends credit agreement to permit it
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- Harmonic signed a $30M Master Receivables Purchase Agreement with JPMorgan to sell accounts receivable.
- Fifth Amendment to existing credit facility allows the RPA and sets aggregate indebtedness cap at $50M.
- Purchased accounts are excluded from eligible accounts under the credit facility; Comcast accounts are also excluded if sold.
- RPA obligations are secured under loan documents; lender retains first-priority lien on amounts JPMorgan owes Harmonic for purchased receivables.
- Facility provides up to $30M in additional liquidity, with proceeds used for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/851310/000085131023000087/0000851310-23-000087-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/851310/000085131023000087/hlit-20230929.htm
  HTML page:      https://secwatch.observer/filing/0000851310-23-000087

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