secwatch.observer — SEC 8-K summary
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Issuer:     DYNATRONICS CORP (—)
CIK:        0000720875
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001062993-23-015821
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/0001062993-23-015821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720875/000106299323015821/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-23-015821

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