Daktronics amends credit agreement to allow extended letters of credit, pushes maturity to Nov 2026

DAKTRONICS INC /SD/

Amendment No. 4 permits issuance of letters of credit expiring after original May 11, 2026 maturity.
New Maturity Date set to earliest of Nov 30, 2026, 6 months before Term Loan Debt maturity, or earlier termination.
Borrowers must deposit cash equal to 105% of LC exposure into collateral account no later than 91 days before Maturity Date.
No borrowings outstanding under the Credit Agreement; aggregate LC balance approx $3.4M, none are Specified Letters of Credit.
Delayed Draw Term Loans must be repaid in full by May 11, 2026.

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