Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CPS TECHNOLOGIES CORP/DE/ entered into Business Loan Agreement (Asset Based) with Rockland Trust Company valued at revolving line of credit of the lesser of $3.0 million and 80% of the aggregate of eligible accounts (effective 2023-05-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Rockland Trust Company
- Value
- revolving line of credit of the lesser of $3.0 million and 80% of the aggregate of eligible accounts
- Effective
- 2023-05-05
Exact text from the filing
On May 5, 2023, CPS Technologies Corp. (the “Company”) entered into a Business Loan Agreement (Asset Based) (the “Loan Agreement”) by and between the Company, as borrower, and Rockland Trust Company, as lender (the “Lender”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
CPS TECHNOLOGIES CORP/DE/ terminated Prior Loan Agreement with The Massachusetts Business Development Corporation valued at Terminated $2.5 million line of credit (effective 2023-05-05).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- The Massachusetts Business Development Corporation
- Value
- Terminated $2.5 million line of credit
- Effective
- 2023-05-05
Exact text from the filing
The Loan Agreement replaced the Company’s previous $2.5 million line of credit (the “Prior Loan Agreement”) entered into on September 15, 2019, by and between the Company, as borrower, and The Massachusetts Business Development Corporation, as lender.
View on SEC.gov