---
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"
generated_at: "2026-06-07T08:36:20.329851+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# ISSC expands revolving credit line from $10M to $30M, extends maturity to 2028

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-128891
- JSON: https://secwatch.observer/filing/0001104659-23-128891.json
- Plain text: https://secwatch.observer/filing/0001104659-23-128891.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: from $10,000,000 to $30,000,000
  - Counterparty: PNC Bank, National Association
  - Rate: Daily SOFR plus an unadjusted spread of Applicable SOFR Margin plus a SOFR adjus
  - Maturity: December 19, 2028
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/0001104659-23-128891-index.htm
- Material Agreements
  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).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: from $10,000,000 to $30,000,000
  - Effective: 2023-12-19
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/836690/000110465923128891/0001104659-23-128891-index.htm

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