---
schema_version: "secwatch.filing_event.v1"
accession: "0000915779-22-000115"
form_type: "8-K"
ticker: "DAKT"
cik: "0000915779"
company_name: "DAKTRONICS INC /SD/"
filed_at: "2022-12-13T23:59:59+00:00"
generated_at: "2026-06-21T05:53:36.501706+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Daktronics enters Sixth Amendment to Credit Agreement; adds new covenants and reporting requirements

## Summary
- Excludes income tax expense from valuation allowance from covenant calculations; adds monthly financial, AR/AP, inventory, and bi-weekly cash flow reporting.
- Restrictions on equity investments until going concern disclosure removed; dividends/repurchases require lender consent.
- $26.8M borrowings and $7.4M letters of credit outstanding under $35M facility with U.S. Bank.
- New covenants: no additional indebtedness or liens (except existing); must engage financial consultant at lender's request.

## SEC filing metadata
- accession: 0000915779-22-000115
- form_type: 8-K
- ticker: DAKT
- cik: 0000915779
- company_name: DAKTRONICS INC /SD/
- filed_at: 2022-12-13T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915779/000091577922000115/0000915779-22-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915779/000091577922000115/dakt-20221209.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000915779-22-000115
- JSON: https://secwatch.observer/filing/0000915779-22-000115.json
- Plain text: https://secwatch.observer/filing/0000915779-22-000115.txt

## Key facts
- Material Agreements
  DAKTRONICS INC /SD/ amended Sixth Amendment with U.S. Bank National Association (effective 2022-12-09).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association
  - Effective: 2022-12-09
  source text: Effective on December 9, 2022, Daktronics, Inc. (the "Company") entered into the Sixth Amendment (the "Amendment") to the Credit Agreement dated as of November 16, 2016, as amended (the “Credit Facility”) with U.S. Bank National Association (the “Bank”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/915779/000091577922000115/0000915779-22-000115-index.htm

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