secwatch.observer — SEC 8-K summary
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Issuer:     JOINT Corp (JYNT)
CIK:        0001612630
Form:       8-K
Filed at:   2023-09-12T23:59:59+00:00
Accession:  0001171843-23-005680
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

JPMorgan grants temporary waiver of default under $20M revolver until Sept 30 for late Q2 10-Q filing
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- Default triggered by failure to timely file Q2 2023 10-Q; JPMorgan waived until Sept 30, 2023.
- Outstanding $2M principal plus $36,150 interest on senior secured revolver; no other covenant breach.
- If not cured by Sept 30, credit facility may accelerate, interest rate rise 2%.
- Company holds $14.8M unrestricted cash as of Aug 31, 2023, sufficient to cover outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1612630/000117184323005680/0001171843-23-005680-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1612630/000117184323005680/f8k_091223.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-005680

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