ORION ENERGY SYSTEMS, INC. (OESX): debt financing — Orion Energy adds $5.1M liquidity via mortgage loan and receivables expansion under amended credit facility

ORION ENERGY SYSTEMS, INC.

Added $3.525M mortgage loan secured by headquarters property in Manitowoc, Wisconsin.
Borrowing base broadened to include government receivables, adding ~$1.6M in availability.
Net available liquidity of $15.3M at March 31, 2024 ($10.1M borrowing base + $5.2M cash).
Amendment No. 2 to Loan and Security Agreement executed with Bank of America effective April 22, 2024.
Amendment fee of $8,000 paid; all reasonable out-of-pocket expenses reimbursed.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ORION ENERGY SYSTEMS, INC. amended credit facility with Bank of America, N.A..

Instrument: credit facility
Counterparty: Bank of America, N.A.
Event: amendment

Exact text from the filing

Effective April 22, 2024, Orion Energy Systems, Inc. (the “Company”), with Bank of America, N.A. as lender, executed Amendment No. 2 (“Amendment No. 2”) to its Loan and Security Agreement dated December 29, 2020 and amended previously on November 4, 2022 (the “LSA”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ORION ENERGY SYSTEMS, INC. incurred mortgage of $3.525 million with Bank of America, N.A..

Instrument: mortgage
Principal: $3.525 million
Counterparty: Bank of America, N.A.
Event: incurrence

Exact text from the filing

The primary purpose of Amendment No. 2 was to add a $3.525 million mortgage loan facility to the LSA secured by the Company’s office headquarters property in Manitowoc, Wisconsin.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ORION ENERGY SYSTEMS, INC. amended Amendment No. 2 with Bank of America, N.A. valued at $3.525 million (effective 2024-04-22).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A.
Value: $3.525 million
Effective: 2024-04-22

Exact text from the filing

Effective April 22, 2024, Orion Energy Systems, Inc. (the “Company”), with Bank of America, N.A. as lender, executed Amendment No. 2 (“Amendment No. 2”) to its Loan and Security Agreement dated December 29, 2020 and amended previously on November 4, 2022 (the “LSA”).

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304 debt financings filed in the last 30 days. Browse all debt financings →

ORION ENERGY SYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-047260

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