---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-075258"
form_type: "8-K"
ticker: null
cik: "0001015155"
company_name: "CHARLES & COLVARD LTD"
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T15:56:31.934084+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Charles & Colvard renews $5M secured credit facility with JPMorgan, extending maturity to July 2024

## Summary
- Renewed $5M cash secured credit facility from JPMorgan Chase; maturity extended to July 31, 2024 from July 31, 2023.
- Facility secured by a $5,050,000 deposit account; no financial covenants; no outstanding balance.
- Interest rate: SOFR + 1.25% per annum plus 0.10% unsecured-to-secured adjustment.
- No advances drawn; facility available for general corporate purposes and working capital.
- Subsidiaries guarantee obligations; JPMorgan may assign the facility.

## SEC filing metadata
- accession: 0001104659-23-075258
- form_type: 8-K
- cik: 0001015155
- company_name: CHARLES & COLVARD LTD
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1015155/000110465923075258/0001104659-23-075258-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1015155/000110465923075258/tm2319461d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-075258
- JSON: https://secwatch.observer/filing/0001104659-23-075258.json
- Plain text: https://secwatch.observer/filing/0001104659-23-075258.txt

## Key facts
- Debt Financings
  CHARLES & COLVARD LTD amended credit facility of $5,000,000 cash secured credit facility with JPMorgan Chase Bank, N.A. at variable rate equal to the sum of the monthly secured overnight financing rate p maturing July 31, 2024.
  - Instrument: credit facility
  - Principal: $5,000,000 cash secured credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: variable rate equal to the sum of the monthly secured overnight financing rate p
  - Maturity: July 31, 2024
  - Event: amendment
  source text: On June 21, 2023, Charles & Colvard, Ltd. (the “Company”), renewed a $5,000,000 cash secured credit facility (as renewed, the “Credit Facility”) from JPMorgan Chase Bank, N.A. (“JPMC”), with an effective date of June 21, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1015155/000110465923075258/0001104659-23-075258-index.htm

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