secwatch.observer — SEC 8-K summary
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Issuer:     GRAHAM CORP (GHM)
CIK:        0000716314
Form:       8-K
Filed at:   2022-03-31T23:59:59+00:00
Accession:  0001193125-22-091944
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Graham Corp amends credit agreement, waives covenants through Sept 2022, reduces line to $15M
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- Waived maximum total leverage ratio and fixed charge coverage requirements through September 30, 2022.
- Line of credit reduced from $30M to $15M; interest rate unchanged at BSBY plus 1.5%.
- New covenants: max net loss $10M for FY ending March 2022; adjusted EBITDA minimums $2.0M (June 2022) and $2.25M (Sept 2022).
- Requires minimum liquidity of $10M through FY 2023 reporting, then $20M; no dividends allowed until compliance.
- Company paid down approximately $10M in debt in Q4 ending March 2022; no borrowings on line as of March 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/716314/000119312522091944/0001193125-22-091944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/716314/000119312522091944/d317076d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-091944

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