---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-086879"
form_type: "8-K"
ticker: "CULP"
cik: "0000723603"
company_name: "CULP INC"
filed_at: "2025-06-16T23:59:59+00:00"
generated_at: "2026-05-19T07:14:43.175251+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-25-086879
- form_type: 8-K
- ticker: CULP
- cik: 0000723603
- company_name: CULP INC
- filed_at: 2025-06-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723603/000095017025086879/0000950170-25-086879-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723603/000095017025086879/culp-20250612.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-086879
- JSON: https://secwatch.observer/filing/0000950170-25-086879.json
- Plain text: https://secwatch.observer/filing/0000950170-25-086879.txt

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