secwatch.observer — SEC 8-K summary
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Issuer:     Good Times Restaurants Inc. (GTIM)
CIK:        0000825324
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0001214659-23-005999
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 5.03, 5.08, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Good Times Restaurants enters $8.0M senior revolving credit facility with Cadence Bank until 2028
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- $8.0M senior revolving loan from Cadence Bank, matures April 20, 2028; replaces prior credit facility.
- Proceeds to fund new restaurant development, buyout of JV partners, share redemptions, and working capital.
- Carries upfront fee of 0.25% and unused commitment fee of 0.25% per annum; interest based on SOFR or Base Rate plus spread.
- Secured by first-priority interest in substantially all assets; includes financial covenants (leverage, fixed charge coverage, minimum liquidity).
- Also amended bylaws to permit remote meetings and adjust notice periods for special meetings and shareholder proposals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/825324/000121465923005999/0001214659-23-005999-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/825324/000121465923005999/d4252318k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-23-005999

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