{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-26-000844","form_type":"8-K","ticker":"EDUC","cik":"0000031667","company_name":"EDUCATIONAL DEVELOPMENT CORP","filed_at":"2026-03-11T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.350484+00:00","generated_at":"2026-05-15T15:15:50.162466+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Educational Development enters $2M revolving credit facility with Regent Bank","bullets":["Revolving loan up to $2M with 1-year maturity to March 6, 2027.","Interest at higher of Prime Rate + 2.00% or 7.00%.","Secured by accounts receivable, eligible inventory, fixed assets, and excess land.","Personal guarantee by CEO Craig White as added inducement.","No funds drawn initially; facility described as increased capacity with reduced rates vs prior lender."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-26-000844","json":"https://secwatch.observer/filing/0001185185-26-000844.json","markdown":"https://secwatch.observer/filing/0001185185-26-000844.md","text":"https://secwatch.observer/filing/0001185185-26-000844.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31667/000118518526000844/0001185185-26-000844-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31667/000118518526000844/educ8k031126.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T15:15:50.162466+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":"073bbbd68f5ddf4ee71fe0b09f3fcac57a506dfc","claim":"EDUCATIONAL DEVELOPMENT CORP entered into Loan Agreement with Regent valued at principal amount up to $2,000,000 (effective 2026-03-06).","evidence_excerpt":"On March 6, 2026, Educational Development Corporation (the “Company”) executed a Credit Agreement (“Loan Agreement”) with Regent (the “Lender”). The Loan Agreement establishes a revolving promissory note in the principal amount up to $2,000,000 (the “Revolving Loan”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518526000844/0001185185-26-000844-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Regent"},{"label":"Value","value":"principal amount up to $2,000,000"},{"label":"Effective","value":"2026-03-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}