---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-123720"
form_type: "8-K"
ticker: "FGI"
cik: "0001864943"
company_name: "FGI Industries Ltd."
filed_at: "2022-12-01T23:59:59+00:00"
generated_at: "2026-06-21T11:11:49.194990+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# FGI Industries subsidiary enters $18M credit facility with East West Bank, maturing 2024

## Summary
- FGI Industries' subsidiary entered an $18M asset-based line of credit with East West Bank, amending existing facility.
- Borrowing options: Prime minus 0.25% or SOFR plus 2.20% p.a., subject to 4.50% minimum floor.
- Facility matures December 21, 2024; secured by all subsidiary assets and guaranteed by parent and controlling shareholder Liang Chou Chen.
- Restated credit agreement contains customary covenants, including debt-to-tangible net worth ratio, tangible net worth floor, fixed charge coverage ratio.
- Default events include non-payment, material inaccuracy, covenant breach, bankruptcy, change of control.

## SEC filing metadata
- accession: 0001104659-22-123720
- form_type: 8-K
- ticker: FGI
- cik: 0001864943
- company_name: FGI Industries Ltd.
- filed_at: 2022-12-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1864943/000110465922123720/0001104659-22-123720-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1864943/000110465922123720/tm2231741d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-123720
- JSON: https://secwatch.observer/filing/0001104659-22-123720.json
- Plain text: https://secwatch.observer/filing/0001104659-22-123720.txt

## Key facts
- Debt Financings
  FGI Industries Ltd. amended credit facility of $18 million with East West Bank at Prime Rate minus 0.25% or SOFR plus 2.20% (min 4.500%) maturing December 21, 2024.
  - Instrument: credit facility
  - Principal: $18 million
  - Counterparty: East West Bank
  - Rate: Prime Rate minus 0.25% or SOFR plus 2.20% (min 4.500%)
  - Maturity: December 21, 2024
  - Event: amendment
  source text: On November 25, 2022, FGI Industries, Inc. (“FGI Industries”), a wholly owned subsidiary of FGI Industries Ltd. (the “Company”), entered into a Business Loan Agreement (the “Restated Credit Agreement”) with East West Bank, which amended and restated FGI Industries’ existing line of credit. Under the Restated Credit Agreement, FGI Industries may borrow, from time to time, up to $18 million at an interest rate equal to, at its option, either (i) 0.25 percentage points less than the Prime Rate quoted by the Wall Street Journal or (ii) the SOFR Rate (as administered by CME Group Benchmark Administration Limited and displayed by Bloomberg LP) plus 2.20% per annum (in either case, subject to a minimum rate of 4.500% per annum). Borrowings under the Restated Credit Agreement have a maturity date of December 21, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1864943/000110465922123720/0001104659-22-123720-index.htm
- Material Agreements
  FGI Industries Ltd. amended Restated Credit Agreement with East West Bank valued at $18 million (effective 2022-11-25).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: East West Bank
  - Value: $18 million
  - Effective: 2022-11-25
  source text: On November 25, 2022, FGI Industries, Inc. (“FGI Industries”), a wholly owned subsidiary of FGI Industries Ltd. (the “Company”), entered into a Business Loan Agreement (the “Restated Credit Agreement”) with East West Bank, which amended and restated FGI Industries’ existing line of credit.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1864943/000110465922123720/0001104659-22-123720-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.