secwatch.observer — SEC 8-K summary
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Issuer:     AMTECH SYSTEMS INC (ASYS)
CIK:        0000720500
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0000950170-23-069441
Event type: debt
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Amtech Systems enters forbearance agreement with UMB Bank to cure covenant default, amends loan terms
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- Revolver increased from $8M to $14M; maturity extended to January 2025.
- Term loan commitment reduced from $12M to $4.4M; maturity extended to January 2029.
- Monthly term loan payments reduced from $235,204 to $73,720.
- Interest rate changed to Prime plus applicable margin; minimum EBITDA covenant replaces debt-to-EBITDA.
- Fixed charge coverage ratio compliance deferred to FY ending Sept 2024, minimum 1.30:1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720500/000095017023069441/0000950170-23-069441-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720500/000095017023069441/asys-20231205.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-069441

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