secwatch.observer — SEC 8-K summary
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Issuer:     Electromed, Inc. (ELMD)
CIK:        0001488917
Form:       8-K
Filed at:   2023-12-15T23:59:59+00:00
Accession:  0000897101-23-000540
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Electromed renews $2.5M revolving credit facility with Choice Financial Group through Dec 2025
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- Revolving line of credit renewed at $2,500,000, maturing December 18, 2025 (extended 2 years).
- Borrowing base limited to 57% of eligible accounts receivable; interest at prime minus 1.00%, no floor.
- Rider adds 5-day grace on payment defaults, $1M materiality threshold for cross-defaults.
- Loan remains secured by substantially all tangible and intangible assets of the company.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1488917/000089710123000540/0000897101-23-000540-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1488917/000089710123000540/elmd231252_8k.htm
  HTML page:      https://secwatch.observer/filing/0000897101-23-000540

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