---
schema_version: "secwatch.filing_event.v1"
accession: "0001062993-23-015821"
form_type: "8-K"
ticker: null
cik: "0000720875"
company_name: "DYNATRONICS CORP"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T06:39:43.004438+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Dynatronics enters $7.5M asset-based credit facility with Gibraltar Business Capital

## Summary
- Loan and Security Agreement with Gibraltar Business Capital provides up to $7.5M revolving credit facility.
- Borrowings bear interest at SOFR plus 5.00%; maturity is three years from note date.
- Facility secured by first-priority lien on substantially all assets, including AR, inventory, and IP.
- Proceeds will fund working capital needs and general corporate purposes, per press release on August 4, 2023.
- Financial covenants include maximum monthly leverage ratio of 1.0:1.0 if availability below $1M.

## SEC filing metadata
- accession: 0001062993-23-015821
- form_type: 8-K
- cik: 0000720875
- company_name: DYNATRONICS CORP
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/0001062993-23-015821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001062993-23-015821
- JSON: https://secwatch.observer/filing/0001062993-23-015821.json
- Plain text: https://secwatch.observer/filing/0001062993-23-015821.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/0001062993-23-015821-index.htm
- Material Agreements
  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
  source text: 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")
  evidence_url: https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/0001062993-23-015821-index.htm

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