secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-09-29T23:59:59+00:00
Accession:  0001193125-23-247394
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media extends forbearance period to Nov 3, 2023; availability requirement rises to $5M
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- Forbearance period extended through Nov 3, 2023; availability minimum of $1M until then, $5M thereafter.
- Outstanding revolving loans and letter of credit usage: $18.84M as of Sept 26, 2023.
- Designated events of default remain continuing; no cure provided.
- Loan parties release all claims against lenders and reaffirm obligations and liens.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523247394/0001193125-23-247394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523247394/d533042d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-247394

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