AMREP subsidiary increases revolving credit facility to $5.75M, extends maturity to 2025

AMREP CORP.

Maximum borrowing under line increased by $1.75M to $5.75M; maturity extended to August 15, 2025.
Interest rate changed to one-month Term SOFR plus 3.15%, adjusted monthly.
Borrowing is for general corporate purposes; ASW must maintain at least $3M liquidity to draw.
Lender commitment fee of $4,375 paid; loan secured by mortgage on Sandoval County, NM property.

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