debt
confidence high
sentiment neutral
materiality 0.55
TransAct Technologies amends credit facility; swaps EBITDA covenant for $750K minimum excess availability
TRANSACT TECHNOLOGIES INC
- Changed financial covenant from minimum EBITDA to excess availability of at least $750,000.
- New covenant tested monthly starting July 31, 2021 under Siena Lending credit facility.
- Within 45 days of July 21, 2021, borrower must deliver control agreement for Kestra Investment account or face default.
- No other material changes to loan terms; representations and warranties reaffirmed.