---
schema_version: "secwatch.filing_event.v1"
accession: "0000915779-23-000003"
form_type: "8-K"
ticker: "DAKT"
cik: "0000915779"
company_name: "DAKTRONICS INC /SD/"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T10:17:17.802571+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Daktronics extends $10M of credit facility to May 1, 2023; forms committee to explore long-term liquidity options

## Summary
- Effective Jan 23, 2023, Daktronics amended credit agreement with U.S. Bank, extending $10M maturity to May 1, 2023; remaining $35M matures Apr 29, 2025.
- Interest rate increased to 3.35% plus SOFR; as of Jan 20, 2023, $22.7M outstanding and $7.5M in letters of credit.
- Board formed independent Strategy and Financing Review Committee in Dec 2022, chaired by Howard I. Atkins, to address near-term credit needs and explore longer-term liquidity improvements.
- Committee has hired financial and legal advisors; company has received several financing proposals but no assurance of transaction or timetable.

## SEC filing metadata
- accession: 0000915779-23-000003
- form_type: 8-K
- ticker: DAKT
- cik: 0000915779
- company_name: DAKTRONICS INC /SD/
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915779/000091577923000003/0000915779-23-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915779/000091577923000003/dakt-20230123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000915779-23-000003
- JSON: https://secwatch.observer/filing/0000915779-23-000003.json
- Plain text: https://secwatch.observer/filing/0000915779-23-000003.txt

## Key facts
- Material Agreements
  DAKTRONICS INC /SD/ amended Seventh Amendment with U.S. Bank National Association valued at $45 million (effective 2023-01-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association
  - Value: $45 million
  - Effective: 2023-01-23
  source text: Effective on January 23, 2023, Daktronics, Inc. (the "Company") entered into the Seventh Amendment (the "Amendment") to the Credit Agreement dated as of November 16, 2016, as amended (the “Credit Agreement”) with U.S. Bank National Association (the “Bank”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/915779/000091577923000003/0000915779-23-000003-index.htm

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