EACO subsidiary Bisco increases credit line to $20M, extends maturity to Feb 2026

EACO CORP

Bisco Industries amended its line of credit with Citizens Business Bank, increasing the principal from $15M to $20M.
Maturity date extended from prior date to February 15, 2026; monthly payments due the 15th.
Obligations secured by substantially all assets of the company; guaranteed by parent EACO Corporation.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

EACO CORP amended Change in Terms Agreement with Citizens Business Bank valued at increases the principal loan amount under the line of credit to $20,000,000 (effective 2024-04-12).

Action: amendment
Agreement: credit facility
Counterparty: Citizens Business Bank
Value: increases the principal loan amount under the line of credit to $20,000,000
Effective: 2024-04-12

Exact text from the filing

On May 10, 2024, Bisco Industries, Inc. (“Bisco”), a wholly-owned subsidiary of EACO Corporation (”EACO,” together with Bisco, the “Company”), executed a Change in Terms Agreement dated as of April 12, 2024 (the “Amendment”) with Citizens Business Bank (the “Lender”) to modify terms of that certain Business Loan Agreement dated as of November 5, 2022 between Bisco and the Lender, as amended (the “Loan Agreement”), which provided the Company with a $15,000,000 line of credit.

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Source: SEC EDGAR

accession 0001104659-24-061253

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