Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
DYNATRONICS CORP incurred revolving credit of $7,500,000 with Gibraltar Business Capital, LLC at SOFR plus 5.00% maturing three years from the date of the promissory note.
- Instrument
- revolving credit
- Principal
- $7,500,000
- Counterparty
- Gibraltar Business Capital, LLC
- Rate
- SOFR plus 5.00%
- Maturity
- three years from the date of the promissory note
- Event
- incurrence
Exact text from the filing
used for operating capital. Amounts available under the Loan Agreement (the "Revolving Loans") will be subject to a borrowing base calculation of up to a maximum availability of $7,500,000 (the "Revolving Loan Commitment") and will bear interest at SOFR plus 5.00%. The Company paid a closing fee of 1.00% of the Revolving Loan Commitment and the line is subject to a
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
DYNATRONICS CORP entered into Loan and Security Agreement with Gibraltar Business Capital, LLC valued at up to a maximum availability of $7,500,000 (effective 2023-08-01).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Gibraltar Business Capital, LLC
- Value
- up to a maximum availability of $7,500,000
- Effective
- 2023-08-01
Exact text from the filing
entered into a Loan and Security Agreement (the "Loan Agreement") with Gibraltar Business Capital, LLC ("Lender"), to provide asset-based financing to the Company to be used for operating capital. Amounts available under the Loan Agreement (the "Revolving Loans") will be subject to a borrowing base calculation of up to a maximum availability of $7,500,000 (the "Revolving Loan Commitment")
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