secwatch.observer — SEC 8-K summary
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Issuer:     Perma-Pipe International Holdings, Inc. (PPIH)
CIK:        0000914122
Form:       8-K
Filed at:   2021-09-21T23:59:59+00:00
Accession:  0001437749-21-022463
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Perma-Pipe enters $18M secured revolving credit facility maturing 2026; waives prior covenant defaults
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- New five-year $18M senior secured revolver with PNC Bank, borrowing base subject to reserves.
- Interest at ABR + 1.00-1.50% or LIBOR + 2.00-2.50% based on fixed charge coverage ratio.
- 0.25% per annum facility fee on unused portion; $5M annual cap on capital expenditures.
- PNC waived existing financial covenant defaults for fiscal quarters ending Jan, Apr, Jul 2021.
- Facility secured by substantially all North American loan party assets; maturity September 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/914122/000143774921022463/0001437749-21-022463-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/914122/000143774921022463/ppih20210915_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-21-022463

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