---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-24-000636"
form_type: "8-K"
ticker: "EDUC"
cik: "0000031667"
company_name: "EDUCATIONAL DEVELOPMENT CORP"
filed_at: "2024-06-17T23:59:59+00:00"
generated_at: "2026-06-01T04:11:27.091412+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# EDUC executes Fifth Amendment to Credit Agreement, cuts revolver to $7M and ties further reduction to HQ sale

## Summary
- Fifth Amendment effective May 31, 2024 sets max revolver availability to $7.0M through Oct 4, 2024.
- Revolver will decrease to $4.5M upon closing of sale of Hilti Complex headquarters.
- Sale contract with Rockford Holdings expected to close by September 12, 2024.
- CEO Craig White says sale proceeds expected to fully pay off all Revolver and Term Loan borrowings.
- Post-sale, $4.5M revolver line remains to support operations as company focuses on returning to profitability.

## SEC filing metadata
- accession: 0001185185-24-000636
- form_type: 8-K
- ticker: EDUC
- cik: 0000031667
- company_name: EDUCATIONAL DEVELOPMENT CORP
- filed_at: 2024-06-17T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/31667/000118518524000636/0001185185-24-000636-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/31667/000118518524000636/edc20240617_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-24-000636
- JSON: https://secwatch.observer/filing/0001185185-24-000636.json
- Plain text: https://secwatch.observer/filing/0001185185-24-000636.txt

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