{"schema_version":"secwatch.filing_event.v1","accession":"0000915779-23-000026","form_type":"8-K","ticker":"DAKT","cik":"0000915779","company_name":"DAKTRONICS INC /SD/","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.790283+00:00","generated_at":"2026-06-15T05:34:52.446265+00:00","sec_items":["7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Daktronics secures $100M in capital: $75M JPMorgan facility + $25M convertible note from Alta Fox","bullets":["Closed $75M senior secured credit facility with JPMorgan Chase (matures May 2026): $60M revolver and $15M delayed-draw term loan secured by real estate.","Issued $25M convertible notes to major shareholder Alta Fox at 9% interest, due May 2027, convertible at $6.31 per share.","New facility replaces prior $35M U.S. Bank credit line; all obligations repaid without drawing on JPMorgan facility.","Interest on revolver at SOFR+2.5%-3.5%; term loan at SOFR+3.5%-4.5%; fixed charge coverage ratio of 1.1:1.0 required.","Alta Fox's standstill agreement extended to after 2024 annual meeting; Company can force conversion after 18 months if stock hits 150% of conversion price."],"urls":{"canonical":"https://secwatch.observer/filing/0000915779-23-000026","json":"https://secwatch.observer/filing/0000915779-23-000026.json","markdown":"https://secwatch.observer/filing/0000915779-23-000026.md","text":"https://secwatch.observer/filing/0000915779-23-000026.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/915779/000091577923000026/0000915779-23-000026-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/915779/000091577923000026/dakt-20230511.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T05:34:52.446265+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}