secwatch.observer — SEC 8-K summary
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Issuer:     BROADWIND, INC. (BWEN)
CIK:        0001120370
Form:       8-K
Filed at:   2023-02-14T23:59:59+00:00
Accession:  0001437749-23-003257
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Broadwind waives EBITDA covenant breach, amends credit agreement with Wells Fargo
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- Waived existing event of default for minimum EBITDA shortfall (below $2.5M for Dec 2022).
- Amended minimum EBITDA: $1.921M (Mar 2023), $3.661M (Jun), $5.876M (Sep), $9.929M (Dec 2023).
- Fixed charge coverage ratio begins Jan 2024 at 1.0x through June 2024, then 1.1x.
- Paid $25,000 amendment fee; added Advanced Deposit Reserve definitions to credit agreement.
- Company reaffirmed all obligations; no other defaults continuing after waiver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120370/000143774923003257/0001437749-23-003257-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120370/000143774923003257/bwen20230213_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-003257

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