secwatch.observer — SEC 8-K summary
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Issuer:     TECHPRECISION CORP (TPCS)
CIK:        0001328792
Form:       8-K
Filed at:   2022-12-30T23:59:59+00:00
Accession:  0001104659-22-131367
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TechPrecision extends term loan to 2027, modifies revolver and interest rates
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- Extended Ranor Term Loan maturity from Dec 15, 2022 to Dec 15, 2027.
- Extended revolver loan maturity from Dec 20, 2022 to Dec 20, 2023.
- Increased term loan interest rate from 5.21% to 6.05% per annum.
- Reduced monthly term loan payment from $19,260.46 to $16,601.89.
- Replaced LIBOR with SOFR as benchmark for revolver; lowered debt service coverage ratio to 1.10x for Dec 2022 quarter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1328792/000110465922131367/0001104659-22-131367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1328792/000110465922131367/tm2233762d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-131367

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer