Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
RICHARDSON ELECTRONICS, LTD. incurred revolving credit of $30,000,000 with PNC Bank, N.A. at Term SOFR Rate plus 1.25% maturing three years from the Closing Date.
- Instrument
- revolving credit
- Principal
- $30,000,000
- Counterparty
- PNC Bank, N.A.
- Rate
- Term SOFR Rate plus 1.25%
- Maturity
- three years from the Closing Date
- Event
- incurrence
Exact text from the filing
On March 20, 2023 (the “Closing Date”), Richardson Electronics, Ltd., a Delaware corporation (the “Company”), and certain subsidiaries of the Company (collectively, the “Guarantors”) entered into a Credit Agreement (the “Credit Agreement”) among the Company, the Guarantors party thereto, the Lenders party thereto, and PNC Bank, N.A., as Administrative Agent, Swingline Loan Lender and Issuing Lender thereunder. The Credit Agreement provides for a three (3)-year, senior secured revolving credit facility in an aggregate principal amount not to exceed $30,000,000, including a Swingline Loan subfacility and Letter of Credit subfacility (collectively, the “Revolving Credit Facility”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
RICHARDSON ELECTRONICS, LTD. entered into Credit Agreement with PNC Bank, N.A. and the Lenders party thereto valued at $30,000,000 (effective 2023-03-20).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- PNC Bank, N.A. and the Lenders party thereto
- Value
- $30,000,000
- Effective
- 2023-03-20
Exact text from the filing
On March 20, 2023 (the “Closing Date”), Richardson Electronics, Ltd., a Delaware corporation (the “Company”), and certain subsidiaries of the Company (collectively, the “Guarantors”) entered into a Credit Agreement (the “Credit Agreement”) among the Company, the Guarantors party thereto, the Lenders party thereto, and PNC Bank, N.A., as Administrative Agent, Swingline Loan Lender and Issuing Lender thereunder. The Credit Agreement provides for a three (3)-year, senior secured revolving credit facility in an aggregate principal amount not to exceed $30,000,000, including a Swingline Loan subfacility and Letter of Credit subfacility (collectively, the “Revolving Credit Facility”).
View on SEC.gov