secwatch.observer — SEC 8-K summary
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Issuer:     AVALON HOLDINGS CORP (AWX)
CIK:        0001061069
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001437749-22-019399
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avalon Holdings enters $31M term loan to refinance prior debt and fund resort expansions
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- $31M term loan from Laurel Capital Corporation; $20.2M used to pay off 2019 term loan and $0.4M for transaction costs.
- Remaining ~$10.4M deposited into project fund for renovating/expanding The Grand Resort and Avalon Field Club.
- Loan bears 6.00% fixed interest for first 7 years, then resets at a rate between 6.00% and 8.50%.
- Payable in 119 equal monthly installments (25-year amortization) with a final balloon due August 5, 2032.
- Covenant requires Fixed Charge Coverage Ratio of at least 1.20x, tested annually starting December 31, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1061069/000143774922019399/0001437749-22-019399-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1061069/000143774922019399/awx20220804_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-019399

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