---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-006983"
form_type: "8-K"
ticker: "IIIN"
cik: "0000764401"
company_name: "INSTEEL INDUSTRIES INC"
filed_at: "2023-03-17T23:59:59+00:00"
generated_at: "2026-06-17T23:57:27.292988+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Insteel extends $100M revolver maturity to 2028, switches to SOFR

## Summary
- Extended $100M revolving credit facility maturity from May 15, 2024 to March 15, 2028.
- Replaced LIBOR with SOFR as benchmark rate; SOFR loans include 0.10% credit adjustment spread.
- Released Intercontinental Metals Corp. as guarantor; it is now an immaterial subsidiary.
- No borrowings outstanding as of March 15, 2023; interest rate margins unchanged (0.25% base, 1.25% SOFR).
- Paid $150,000 amendment fee to Wells Fargo.

## SEC filing metadata
- accession: 0001437749-23-006983
- form_type: 8-K
- ticker: IIIN
- cik: 0000764401
- company_name: INSTEEL INDUSTRIES INC
- filed_at: 2023-03-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764401/000143774923006983/0001437749-23-006983-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764401/000143774923006983/iiin20230316_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-006983
- JSON: https://secwatch.observer/filing/0001437749-23-006983.json
- Plain text: https://secwatch.observer/filing/0001437749-23-006983.txt

## Key facts
- Debt Financings
  INSTEEL INDUSTRIES INC amended revolving credit of $100.0 million with Wells Fargo Bank, N.A. at applicable interest rate margins were 0.25% for base rate loans and 1.25% for SO maturing March 15, 2028.
  - Instrument: revolving credit
  - Principal: $100.0 million
  - Counterparty: Wells Fargo Bank, N.A.
  - Rate: applicable interest rate margins were 0.25% for base rate loans and 1.25% for SO
  - Maturity: March 15, 2028
  - Event: amendment
  source text: The First Amendment extends the maturity date of the Company's $100.0 million revolving credit facility formerly provided by that certain Third Amended and Restated Credit Agreement, dated as of May 15, 2019, from May 15, 2024 to March 15, 2028 and replaces the London Inter-Bank Offered Rate ("LIBOR") with the secured overnight financing rate ("SOFR") as the benchmark interest rate available for borrowings.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764401/000143774923006983/0001437749-23-006983-index.htm
- Material Agreements
  INSTEEL INDUSTRIES INC amended First Amendment to Third Amended and Restated Credit Agreement with Wells Fargo Bank, N.A. valued at $100 million revolving credit facility; interest rate margins: 0.25% base rate, 1.25% SOFR-based; SO (effective 2023-03-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, N.A.
  - Value: $100 million revolving credit facility; interest rate margins: 0.25% base rate, 1.25% SOFR-based; SO
  - Effective: 2023-03-15
  source text: On March 15, 2023, Insteel Industries, Inc. (the "Company") and its wholly-owned subsidiary, Insteel Wire Products Company ("IWP"), entered into the First Amendment (the "First Amendment") to Third Amended and Restated Credit Agreement, among IWP, as borrower, the Company, as credit party and guarantor, and Wells Fargo Bank, N.A. ("WF"), as agent and lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764401/000143774923006983/0001437749-23-006983-index.htm

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