secwatch.observer — SEC 8-K summary
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Issuer:     TRANSACT TECHNOLOGIES INC (TACT)
CIK:        0001017303
Form:       8-K
Filed at:   2022-07-25T23:59:59+00:00
Accession:  0001214659-22-009128
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TransAct extends loan maturity to 2025; new springing cash control triggered at $5M
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- Maturity extended from March 13, 2023 to March 13, 2025 via Amendment No. 2 with Siena Lending Group.
- New 'springing' deposit account control: TransAct controls cash unless Excess Availability + cash < $5M for 3 days.
- Minimum borrowings of $2.25M required while TransAct controls deposit account; otherwise interest on $2.25M.
- Amendment fee $25,000; early termination premium: 2% before Mar 2023, 1% before Mar 2024, 0% after.
- Collateral monitoring fee: $62,000 unpaid balance payable $2,000/month plus remainder at maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1017303/000121465922009128/0001214659-22-009128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1017303/000121465922009128/p7222208k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-22-009128

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