Culp extends Wells Fargo ABL facility to June 2028; borrowing base unchanged at $30M

CULP INC

Term extended three years; now matures June 12, 2028 (was previously January 2026).
Maximum revolving credit remains $30M with $2M letter-of-credit sublimit.
Interest rate: daily simple SOFR + 1.75% to 2.25% based on average monthly excess availability.
Springing fixed charge coverage ratio of 1.10x triggered when availability falls below $4.5M.
$120,000 amendment fee paid to Wells Fargo.

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