---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-002795"
form_type: "8-K"
ticker: "MIND"
cik: "0000926423"
company_name: "MIND TECHNOLOGY, INC"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T22:18:21.585093+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# MIND Technology secures $3.75M loan from Sachem Capital at 12.9% interest, due Feb 2024

## Summary
- Loan agreement with Sachem Capital Corp. for $3.75M principal, due February 1, 2024.
- Interest rate 12.9% per annum, prepaid through maturity; origination fee of $240,000 paid.
- Loan secured by mortgages on certain real estate owned by MIND Technology and Klein Marine Systems.
- Loan may be prepaid at any time without penalty.

## SEC filing metadata
- accession: 0001437749-23-002795
- form_type: 8-K
- ticker: MIND
- cik: 0000926423
- company_name: MIND TECHNOLOGY, INC
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/926423/000143774923002795/0001437749-23-002795-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/926423/000143774923002795/mind20230206_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-002795
- JSON: https://secwatch.observer/filing/0001437749-23-002795.json
- Plain text: https://secwatch.observer/filing/0001437749-23-002795.txt

## Key facts
- Material Agreements
  MIND TECHNOLOGY, INC entered into Loan and Security Agreement with Sachem Capital Corp. valued at $3.75 million (effective 2023-02-02).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Sachem Capital Corp.
  - Value: $3.75 million
  - Effective: 2023-02-02
  source text: On February 2, 2023, MIND Technology, Inc. and its wholly owned subsidiary, Klein Marine Systems Inc., (collectively, the “Borrowers”), entered into a $3.75 million Loan and Security Agreement (the “Loan”) with Sachem Capital Corp., (the “Lender”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/926423/000143774923002795/0001437749-23-002795-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.