---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-025679"
form_type: "8-K"
ticker: "HGBL"
cik: "0000849145"
company_name: "Heritage Global Inc."
filed_at: "2023-06-01T23:59:59+00:00"
generated_at: "2026-06-14T10:03:04.027190+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Heritage Global amends $10M revolver and adds $7M term loan with C3bank

## Summary
- Amended $10M revolver matures Oct 27, 2024; interest rate is prime + 1.00% (floor 6.75%).
- New $7.0M term loan matures Apr 27, 2028; interest rate is prime + 0.25%.
- Both facilities secured by assets and subsidiary equity; term loan also secured by East Lyme, CT building.
- Unused line fee on revolver applies if average balance below $5M; prepayment fee on term loan in first year.
- Proceeds from both facilities to be used for business operations.

## SEC filing metadata
- accession: 0000950170-23-025679
- form_type: 8-K
- ticker: HGBL
- cik: 0000849145
- company_name: Heritage Global Inc.
- filed_at: 2023-06-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/849145/000095017023025679/0000950170-23-025679-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/849145/000095017023025679/hgbl_8-k_c3_credit_facil.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-025679
- JSON: https://secwatch.observer/filing/0000950170-23-025679.json
- Plain text: https://secwatch.observer/filing/0000950170-23-025679.txt

## Key facts
- Debt Financings
  Heritage Global Inc. amended revolving credit of $10.0 million revolving line of credit with C3bank, National Association at prime rate plus a margin of 1.00% (such rate not to be less than 6.750% per annu maturing October 27, 2024.
  - Instrument: revolving credit
  - Principal: $10.0 million revolving line of credit
  - Counterparty: C3bank, National Association
  - Rate: prime rate plus a margin of 1.00% (such rate not to be less than 6.750% per annu
  - Maturity: October 27, 2024
  - Event: amendment
  source text: agreement and agreement to provide insurance (the “ 2021 Credit Facility ” and, together the Amended Credit Facility, the “ Amended Credit Facility ”) with the Lender for a $10.0 million revolving line of credit. The Company is permitted to use the proceeds of the Amended Credit Facility solely for its business operations. The Amended Credit Facility extends the
  evidence_url: https://www.sec.gov/Archives/edgar/data/849145/000095017023025679/0000950170-23-025679-index.htm
- Debt Financings
  Heritage Global Inc. incurred term loan of $7.0 million term loan with C3bank, National Association at prime rate plus a margin of 0.250% maturing April 27, 2028.
  - Instrument: term loan
  - Principal: $7.0 million term loan
  - Counterparty: C3bank, National Association
  - Rate: prime rate plus a margin of 0.250%
  - Maturity: April 27, 2028
  - Event: incurrence
  source text: The New Credit Facility, provides for a new $7.0 million term loan (the "New Term Loan; the New Credit Facility and the New Term Loan, the “ New Credit Facility ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/849145/000095017023025679/0000950170-23-025679-index.htm

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