secwatch.observer — SEC 8-K summary
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Issuer:     SIEBERT FINANCIAL CORP (SIEB)
CIK:        0000065596
Form:       8-K
Filed at:   2024-08-20T23:59:59+00:00
Accession:  0001213900-24-071183
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Siebert Financial enters $20M revolving credit facility with East West Bank
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- Revolver cap of $20M with initial two‑year term; interest rate at SOFR + 3.15% (floor 7.50%).
- Proceeds allowed for acquisitions, stock buybacks, and up to $10M for general corporate purposes.
- Personal guarantees from CEO John J. Gebbia, Director Gloria E. Gebbia, and their trust.
- Covenants include minimum debt service coverage ratio of 1.35:1 and minimum net capital of $43M.
- Origination fee 0.50% of the $20M revolver cap; Bank may debit fees from advance or deposit account.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65596/000121390024071183/0001213900-24-071183-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65596/000121390024071183/ea0211950-8k_siebert.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-071183

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