secwatch.observer — SEC 8-K summary
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Issuer:     Orion Group Holdings Inc (ORN)
CIK:        0001402829
Form:       8-K
Filed at:   2024-07-02T23:59:59+00:00
Accession:  0001402829-24-000049
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orion Group amends credit agreement; revises liquidity covenants and prepayment schedule
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- Minimum liquidity threshold set at $8M through July 26, 2024; $10M through Sep 30, 2024; $15M thereafter.
- Mandatory prepayments: $2M by July 26, $4M by Aug 30, $4M by Sep 30, $5M by Oct 31, 2024.
- East and West Jones property sale proceeds can offset up to $10M of capital expenditures for covenant compliance.
- Amendment fee of $50,000 paid to administrative agent; release of claims against lenders.
- Cash dominion event triggered if liquidity falls below applicable threshold; reporting frequency increased.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1402829/000140282924000049/0001402829-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1402829/000140282924000049/orn-20240628x8k.htm
  HTML page:      https://secwatch.observer/filing/0001402829-24-000049

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