SIGMATRON INTERNATIONAL INC: restructuring charge — SigmaTron receives default notices on credit agreements; records $23.1M impairment charges

SIGMATRON INTERNATIONAL INC

Received default notices from JPMorgan and TCW for failing fixed charge coverage ratio and total debt-to-EBITDA covenants as of Jan 31, 2023.
Negotiating forbearance agreements; lender parties have not yet accelerated obligations or exercised remedies.
Recorded non-cash pre-tax goodwill impairment of ~$13.3M for Pet Tech Segment for Q3 FY2023.
Recorded non-cash pre-tax intangible assets impairment of ~$9.8M for Pet Tech Segment for same quarter.
Total pre-tax impairment charges of ~$23.1M from Pet Tech Segment.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

SIGMATRON INTERNATIONAL INC announced a impairment with charges of approximately $13.3 million affecting Pet Tech Segment.

Type: impairment
Charge: approximately $13.3 million
Affected area: Pet Tech Segment

Exact text from the filing

Accordingly, a non-cash pre-tax goodwill impairment charge of approximately $13.3 million and a non-cash intangible assets impairment charge of approximately $9.8 million would be recorded for the Company’s Pet Tech Segment for the quarter ended January 31, 2023.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

SIGMATRON INTERNATIONAL INC announced a impairment with charges of approximately $9.8 million affecting Pet Tech Segment.

Type: impairment
Charge: approximately $9.8 million
Affected area: Pet Tech Segment

Exact text from the filing

Accordingly, a non-cash pre-tax goodwill impairment charge of approximately $13.3 million and a non-cash intangible assets impairment charge of approximately $9.8 million would be recorded for the Company’s Pet Tech Segment for the quarter ended January 31, 2023.

View on SEC.gov

Browse all restructurings & charges →

Source: SEC EDGAR

accession 0001193125-23-074888

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.