secwatch.observer — SEC 8-K summary
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Issuer:     CRYO CELL INTERNATIONAL INC (CCEL)
CIK:        0000862692
Form:       8-K
Filed at:   2022-07-22T23:59:59+00:00
Accession:  0000950170-22-012926
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Cryo-Cell enters $18.96M credit facility with Susser Bank; term loan for NC building purchase
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- Revolving credit facility of up to $10M and term loan of $8.96M with Susser Bank.
- Term loan proceeds used to purchase commercial office building in Durham, North Carolina (previously disclosed).
- RCF matures July 18, 2025; term loan matures July 18, 2032.
- Interest at Base Rate plus 4.25% or SOFR plus 3.25% (floors of 5.5% and 4.5%, respectively).
- Covenants: leverage ratio ≤3.50x, debt service coverage ≥1.25x; dividends restricted if default exists.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862692/000095017022012926/0000950170-22-012926-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862692/000095017022012926/ccel-20220718.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-012926

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