ADAC-Strattec (STRT sub) amends credit: revolver cut to $20M, rates up, maturity to 2026

STRATTEC SECURITY CORP

Revolving commitment reduced from $25M to $20M now, $18M from Aug 1, 2025; maturity extended to Aug 1, 2026.
SOFR loan margin increased from 1.25% to 3.00%; Base Rate margin from 0.00% to 2.00%.
Unused fee raised to 0.25% from 0.15%; minimum tangible net worth covenant increased to $45M.
STRATTEC continues to guarantee the credit facility under its existing corporate guarantee.

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