---
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"
generated_at: "2026-06-07T06:37:46.540037+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# EDUC increases revolver to $8M, extends maturity; plans sale-leaseback of HQ

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-001357
- JSON: https://secwatch.observer/filing/0001185185-23-001357.json
- Plain text: https://secwatch.observer/filing/0001185185-23-001357.txt

## Key facts
- Material Agreements
  EDUCATIONAL DEVELOPMENT CORP amended Fourth Amendment to the Existing Credit Agreement with BOKF, NA valued at $8,000,000 (effective 2023-12-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: BOKF, NA
  - Value: $8,000,000
  - Effective: 2023-12-01
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/31667/000118518523001357/0001185185-23-001357-index.htm

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