EDUC extends credit facility to Jan 2025; steps down to $5.5M, ties to HQ sale payoff

EDUCATIONAL DEVELOPMENT CORP

Sixth Amendment to Credit Agreement with BOKF extends maturity to January 4, 2025.
Revolving Loan commitment reduced to $5.5 million effective November 30, 2024.
Sale of Hilti Complex headquarters to Partner Holdings expected to close by January 4, 2025.
Sale proceeds expected to fully repay revolver and term loans, eliminating debt and interest.
CEO Craig White expects favorable impact on profitability and cashflow post-sale.

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