secwatch.observer — SEC 8-K summary
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Issuer:     AMREP CORP. (AXR)
CIK:        0000006207
Form:       8-K
Filed at:   2022-08-16T23:59:59+00:00
Accession:  0001104659-22-091783
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6207/000110465922091783/0001104659-22-091783-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6207/000110465922091783/tm2223581d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-091783

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