secwatch.observer — SEC 8-K summary
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Issuer:     SALEM MEDIA GROUP, INC. /DE/ (SALM)
CIK:        0001050606
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001193125-23-287578
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Salem Media extends forbearance to Dec 18; availability minimum raised to $5M then $7.5M
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- Forbearance period extended through December 18, 2023.
- Minimum Availability increased to $5M from Dec 1-8 and $7.5M thereafter.
- Outstanding Revolving Loans and L/C usage: $20,143,543.39 as of Nov 30, 2023.
- Designated Events of Default continue; amendment includes release and reaffirmation of obligations.
- Amendment also raises minimum availability to $7.5M after Dec 8.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523287578/0001193125-23-287578-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1050606/000119312523287578/d583618d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-287578

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer