{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-23-001357","form_type":"8-K","ticker":"EDUC","cik":"0000031667","company_name":"EDUCATIONAL DEVELOPMENT CORP","filed_at":"2023-12-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.626814+00:00","generated_at":"2026-06-07T06:37:46.540037+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"EDUC increases revolver to $8M, extends maturity; plans sale-leaseback of HQ","bullets":["Revolving loan commitment raised to $8.0M and maturity extended to May 31, 2024.","Company may issue additional purchase orders up to $2.1M through March 31, 2024, subject to lender approval.","Requires sale of Hilti Complex (402,255 sq ft) by March 31, 2024, or list adjacent 17 acres if no offer received.","Expects sale-leaseback with 7-to-15-year lease; proceeds to repay borrowings and fund operations.","CEO cites bank support during challenging period as company focuses on sales growth and returning to profitability."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-23-001357","json":"https://secwatch.observer/filing/0001185185-23-001357.json","markdown":"https://secwatch.observer/filing/0001185185-23-001357.md","text":"https://secwatch.observer/filing/0001185185-23-001357.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001357/0001185185-23-001357-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001357/edc20231228_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T06:37:46.540037+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"11234004a9a33e49478dc70102b5996b5fbfb850","claim":"EDUCATIONAL DEVELOPMENT CORP amended Fourth Amendment to the Existing Credit Agreement with BOKF, NA valued at $8,000,000 (effective 2023-12-01).","evidence_excerpt":"On December 21, 2023, Educational Development Corporation (the “Company”) executed the Fourth Amendment to the Existing Credit Agreement (“Amendment”) with BOKF, NA (the “Lender”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523001357/0001185185-23-001357-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"BOKF, NA"},{"label":"Value","value":"$8,000,000"},{"label":"Effective","value":"2023-12-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}