secwatch.observer — SEC 8-K summary
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Issuer:     SPAR Group, Inc. (SGRP)
CIK:        0001004989
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0001437749-23-005157
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SPAR Group increases US revolver to $28M, Canadian to CDN$2M in Sixth Modification
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- US revolving credit facility raised to $28M from $17.5M; Canadian facility to CDN$2M from CDN$1.5M.
- Interest rate: Prime + 1.90% (min 6.75%); as of Jan 31, 2023, rate was 8.45% on $13.5M outstanding.
- Facility fees include $28,000 upfront for US increase and $4,000 for Canadian increase.
- Unbilled accounts cap for US borrower raised to $7M from $6.5M; credit facility extended to Oct 10, 2024.
- Borrowers paid $28,000 fee for the Sixth Modification; NM Loan Parties were in compliance with covenants as of Dec 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1004989/000143774923005157/0001437749-23-005157-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1004989/000143774923005157/sgrp20230221_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-005157

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