---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-069645"
form_type: "8-K"
ticker: "CMTL"
cik: "0000023197"
company_name: "COMTECH TELECOMMUNICATIONS CORP /DE/"
filed_at: "2025-07-22T23:59:59+00:00"
generated_at: "2026-05-18T04:37:41.118418+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Comtech amends credit agreements, receives $35M subordinated debt infusion, gains covenant holiday until Jan 2027

## Summary
- Amendments suspend fixed charge, net leverage, and min EBITDA covenant testing until four-quarter period ending Jan 31, 2027.
- $35M incremental priority subordinated term loan from existing holder; no cash interest, paid-in-kind, no make-whole premium.
- Net proceeds used to prepay ~$28.5M term loans and ~$5.8M revolver; revolving commitments reduced by ~$2.1M.
- Interest margins on senior term loans: 9.5% (Base Rate), 10.5% (SOFR) until covenant compliance demonstrated; then revert to 7.5-9% / 8.5-10%.
- Minimum EBITDA reduced to $32.5M (Jan 2027), stepping up to $40M by Oct 2027; liquidity floor lowered to $15M from $17.5M.

## SEC filing metadata
- accession: 0001104659-25-069645
- form_type: 8-K
- ticker: CMTL
- cik: 0000023197
- company_name: COMTECH TELECOMMUNICATIONS CORP /DE/
- filed_at: 2025-07-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/23197/000110465925069645/0001104659-25-069645-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/23197/000110465925069645/tm2521351d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-069645
- JSON: https://secwatch.observer/filing/0001104659-25-069645.json
- Plain text: https://secwatch.observer/filing/0001104659-25-069645.txt

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