secwatch.observer — SEC 8-K summary
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Issuer:     PRO DEX INC (PDEX)
CIK:        0000788920
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0001079973-24-001167
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pro-Dex enters $5M Term Loan C to refinance revolving debt and fund stock buybacks
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- New $5M Term Loan C refinances $3M revolving balance; $2M+ available for stock repurchases under 10b5-1 plan.
- Term Loan C requires monthly principal of $83,333 plus accrued interest; matures August 1, 2029.
- Interest rate is greater of 5.0% or one-month SOFR + 2.5%; default rate adds 3%.
- Amended credit agreement retains $7M revolving capacity through August 2026.
- Lender required borrower to enter an Interest Rate Protection Agreement as condition.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788920/000107997324001167/0001079973-24-001167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788920/000107997324001167/pdex_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-001167

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