---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-058672"
form_type: "8-K"
ticker: "ICCC"
cik: "0000811641"
company_name: "IMMUCELL CORP /DE/"
filed_at: "2023-07-21T23:59:59+00:00"
generated_at: "2026-06-13T05:14:58.209137+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# ImmuCell enters into $3M in credit facilities with Gorham Savings Bank and FAME for working capital

## Summary
- $2M term note from Gorham Savings Bank at 7% fixed, monthly payments, 3-year term, 7-year amortization.
- $1M term note from Finance Authority of Maine at 8% fixed, monthly payments, 3-year term, 7-year amortization.
- Facilities secured by mortgages and security interests on substantially all company assets.
- Proceeds used to provide additional working capital.

## SEC filing metadata
- accession: 0001213900-23-058672
- form_type: 8-K
- ticker: ICCC
- cik: 0000811641
- company_name: IMMUCELL CORP /DE/
- filed_at: 2023-07-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811641/000121390023058672/0001213900-23-058672-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811641/000121390023058672/ea182107-8k_immucell.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-058672
- JSON: https://secwatch.observer/filing/0001213900-23-058672.json
- Plain text: https://secwatch.observer/filing/0001213900-23-058672.txt

## Key facts
- Debt Financings
  IMMUCELL CORP /DE/ incurred term loan of $1 million with Finance Authority of Maine at fixed rate of 8.00% per annum maturing three-year term.
  - Instrument: term loan
  - Principal: $1 million
  - Counterparty: Finance Authority of Maine
  - Rate: fixed rate of 8.00% per annum
  - Maturity: three-year term
  - Event: incurrence
  source text: The FAME facility is a $1 million term note bearing interest at a fixed rate of 8.00% per annum with monthly principal and interest payments based on a seven-year amortization schedule with a three-year term.
  evidence_url: https://www.sec.gov/Archives/edgar/data/811641/000121390023058672/0001213900-23-058672-index.htm
- Debt Financings
  IMMUCELL CORP /DE/ incurred term loan of $2 million with Gorham Savings Bank at fixed rate of 7.00% per annum maturing three-year term.
  - Instrument: term loan
  - Principal: $2 million
  - Counterparty: Gorham Savings Bank
  - Rate: fixed rate of 7.00% per annum
  - Maturity: three-year term
  - Event: incurrence
  source text: The GSB facility is a $2 million term note bearing interest at a fixed rate of 7.00% per annum with monthly principal and interest payments based on a seven-year amortization schedule with a three-year term.
  evidence_url: https://www.sec.gov/Archives/edgar/data/811641/000121390023058672/0001213900-23-058672-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.