secwatch.observer — SEC 8-K summary
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Issuer:     Mistras Group, Inc. (MG)
CIK:        0001436126
Form:       8-K
Filed at:   2024-03-01T23:59:59+00:00
Accession:  0001436126-24-000013
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mistras Group amends credit agreement; raises EBITDA addback cap to $15M, eases coverage ratio temporarily
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- Amended credit agreement with JPMorgan allows $15M in non-recurring cash charges added back to EBITDA for 2023-2024 periods, up from $10M.
- Minimum Fixed Charge Coverage Ratio reduced to 1.10:1 for Q4 2023 and Q1 2024, then returns to 1.25:1 from Q2 2024 onward.
- Consent fee of 0.025% paid to lenders consenting to amendment, effective February 27, 2024.
- Amendment reaffirms existing liens and obligations; no defaults occurred as of effective date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1436126/000143612624000013/0001436126-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1436126/000143612624000013/mg-20240227.htm
  HTML page:      https://secwatch.observer/filing/0001436126-24-000013

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