secwatch.observer — SEC 8-K summary
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Issuer:     CYANOTECH CORP (CYAN)
CIK:        0000768408
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0001437749-22-029352
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyanotech increases revolving credit line from $500K to $1M; extends maturity to April 2025
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- Maximum revolving amount raised from $500,000 to $1,000,000 under amended promissory note.
- Maturity date extended from April 12, 2024 to April 12, 2025.
- Lender Skywords Family Foundation is controlled by Chairman Michael Davis (related-party transaction).
- Outstanding principal balance as of amendment date was $1,000,000 (full amount drawn).
- All other terms of the original note remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768408/000143774922029352/0001437749-22-029352-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768408/000143774922029352/cyan20221219_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-029352

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer