secwatch.observer — SEC 8-K summary
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Issuer:     KINGSWAY FINANCIAL SERVICES INC (KFS)
CIK:        0001072627
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001213900-23-016271
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Kingsway to redeem all Class A Preferred Stock for ~$6.1M; enters $10M delayed draw term loan
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- Subsidiaries entered Second Amendment to Loan Agreement with CIBC Bank USA for $10M delayed draw term loan, maturing Dec 1, 2025.
- Loan requires quarterly principal payments of 3.75% of drawn amount; commitment fee $25K, draw fee 75 bps.
- Senior Cash Flow Leverage Ratio maximum increased for certain periods under the amendment.
- Company plans to redeem all outstanding Class A Preferred Stock on March 15, 2023 at $25/share plus accrued dividends, estimated $6.1M aggregate using cash on hand.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1072627/000121390023016271/0001213900-23-016271-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1072627/000121390023016271/ea174515-8k_kingsway.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-016271

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