TechPrecision extends revolver maturity to Jan 2025; discloses existing loan defaults

TECHPRECISION CORP

Revolving credit line maturity extended from Aug 30, 2024 to Jan 15, 2025.
Borrowers failed to meet minimum Debt Service Coverage Ratio for periods ending Sep 30 and Dec 31, 2023 (Existing Defaults).
Lender reserves all rights including acceleration and default interest; no waivers granted.
Modification fee of $7,500 paid; all security and guaranties remain in effect.
Extension is short-term (approx. 4.5 months); borrowings up to $5 million revolver.

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