PRO DEX INC (PDEX): debt financing — Pro-Dex extends credit facility maturity to December 2025, $2.5M drawn

PRO DEX INC

Maturity of revolving and supplemental notes extended from Dec 2024 to Dec 29, 2025.
$2.5M drawn on revolving note; $0 drawn on supplemental note as of Dec 29, 2023.
Interest rate: greater of 5.0% or SOFR + 2.5%; default rate increases by 3%.
Supplemental note available for acquisitions and share repurchases.
Amendment adds arbitration clause and standard representations/warranties.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PRO DEX INC amended credit facility with Minnesota Bank and Trust, a division of HTLF Bank maturing December 29, 2025.

Instrument: credit facility
Counterparty: Minnesota Bank and Trust, a division of HTLF Bank
Maturity: December 29, 2025
Event: amendment

Exact text from the filing

The Amendment extends the maturity date of the Company’s Amended and Restated Revolving Credit Note (the “Revolving Note”) and the Supplemental Revolving Note (the “Supplemental Note”) with MBT from December 29, 2024, to December 29, 2025.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

PRO DEX INC amended Amendment No. 3 to Amended and Restated Credit Agreement with Minnesota Bank and Trust, a division of HTLF Bank valued at $2,500,000 drawn on Revolving Note; maturity extended to December 29, 2025 (effective 2023-12-29).

Action: amendment
Agreement: credit facility
Counterparty: Minnesota Bank and Trust, a division of HTLF Bank
Value: $2,500,000 drawn on Revolving Note; maturity extended to December 29, 2025
Effective: 2023-12-29

Exact text from the filing

On December 29, 2023 (the “Amendment Date”), Pro-Dex, Inc. (the “Company”) entered into Amendment No. 3 to Amended and Restated Credit Agreement (the “Amendment”) with Minnesota Bank and Trust, a division of HTLF Bank (“MBT”), successor by merger to Minnesota Bank and Trust, which amends the Company’s Amended and Restated Credit Agreement, (as amended, the “Credit Agreement”).

View on SEC.gov

283 debt financings filed in the last 30 days. Browse all debt financings →

PRO DEX INC filing history →

Source: SEC EDGAR

accession 0001079973-24-000007

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.