secwatch.observer — SEC 8-K summary
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Issuer:     OPTICAL CABLE CORP (OCC)
CIK:        0001000230
Form:       8-K
Filed at:   2022-07-07T23:59:59+00:00
Accession:  0001437749-22-016819
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Optical Cable extends $18M revolving credit facility to July 2025; reduces servicing fee, raises capex limit
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- Extended maturity of $18M revolver from July 2023 to July 2025 under Modification Agreement with SLR Business Credit.
- Availability Block reduced to $1.15M; Servicing Fee cut to 0.15% of avg daily balance (min $3M).
- Aggregate annual capex limit increased to $1M per fiscal year (was previously lower).
- Termination and facility fees restructured with tiered percentages over extended term.
- Concentration percentages for eligible accounts raised for certain account debtors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000230/000143774922016819/0001437749-22-016819-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000230/000143774922016819/occ20220706_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-016819

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