{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-128891","form_type":"8-K","ticker":"ISSC","cik":"0000836690","company_name":"INNOVATIVE SOLUTIONS & SUPPORT INC","filed_at":"2023-12-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.128631+00:00","generated_at":"2026-06-07T08:36:20.329851+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"ISSC expands revolving credit line from $10M to $30M, extends maturity to 2028","bullets":["Amended credit facility with PNC Bank: line increased from $10M to $30M; maturity extended to Dec 19, 2028.","Proceeds to pay off existing $20M term loan and fund working capital, general purposes, and permitted acquisitions.","Interest rate: Daily SOFR plus spread of 1.50%-2.50% based on funded debt/EBITDA, plus 10 bps SOFR adjustment.","New covenant: Funded Debt to EBITDA ratio must be less than 3.0x, measured quarterly starting Q4 2023.","Allows up to three acquisitions under $10M each without bank consent, subject to leverage and liquidity tests."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-128891","json":"https://secwatch.observer/filing/0001104659-23-128891.json","markdown":"https://secwatch.observer/filing/0001104659-23-128891.md","text":"https://secwatch.observer/filing/0001104659-23-128891.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/0001104659-23-128891-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/tm2333602d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T08:36:20.329851+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"270d18c75704c2ed3b71e5348548dc56ce6c8525","claim":"INNOVATIVE SOLUTIONS & SUPPORT INC amended revolving credit of from $10,000,000 to $30,000,000 with PNC Bank, National Association at Daily SOFR plus an unadjusted spread of Applicable SOFR Margin plus a SOFR adjus maturing December 19, 2028.","evidence_excerpt":"On December 19, 2023, Innovative Solutions and Support, Inc. (the “ Company ”) and PNC Bank, National Association (“ PNC ”) entered into an Amendment to Loan Documents (the “ Loan Amendment ”) and a corresponding Amended and Restated Revolving Line of Credit Note (“ Restated Line of Credit Note ”) and Amended and Restated Line of Credit and Investment Sweep Rider (the “ Restated Rider ”), to increase the aggregate principal amount available under the Company’s senior secured revolving line of credit from $10,000,000 to $30,000,000 and extend the maturity date until December 19, 2028.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/0001104659-23-128891-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"from $10,000,000 to $30,000,000"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Rate","value":"Daily SOFR plus an unadjusted spread of Applicable SOFR Margin plus a SOFR adjus"},{"label":"Maturity","value":"December 19, 2028"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"e893eb547fe20015ac99275b5c28a9396d8ba50c","claim":"INNOVATIVE SOLUTIONS & SUPPORT INC amended Amendment to Loan Documents with PNC Bank, National Association valued at from $10,000,000 to $30,000,000 (effective 2023-12-19).","evidence_excerpt":"On December 19, 2023, Innovative Solutions and Support, Inc. (the “ Company ”) and PNC Bank, National Association (“ PNC ”) entered into an Amendment to Loan Documents (the “ Loan Amendment ”) and a corresponding Amended and Restated Revolving Line of Credit Note (“ Restated Line of Credit Note ”) and Amended and Restated Line of Credit and Investment Sweep Rider (the “ Restated Rider ”), to increase the aggregate principal amount available under the Company’s senior secured revolving line of credit from $10,000,000 to $30,000,000 and extend the maturity date until December 19, 2028.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/0001104659-23-128891-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Value","value":"from $10,000,000 to $30,000,000"},{"label":"Effective","value":"2023-12-19"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}