{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-013417","form_type":"8-K","ticker":"CPSH","cik":"0000814676","company_name":"CPS TECHNOLOGIES CORP/DE/","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.343676+00:00","generated_at":"2026-06-15T07:31:33.010878+00:00","sec_items":["1.01","1.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"medium","headline":"CPS Technologies enters $3M revolving credit facility with Rockland Trust, replaces prior $2.5M line","bullets":["New $3M asset-based revolving line of credit with Rockland Trust Company; nothing drawn as of May 5, 2023.","Replaced prior $2.5M MBDC facility terminated same day without early termination penalties.","Interest rate is prime (currently 8%) variable; monthly interest payments, principal due on demand.","Loan secured by substantially all company assets; includes monthly borrowing base and annual audited financial covenants."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-013417","json":"https://secwatch.observer/filing/0001437749-23-013417.json","markdown":"https://secwatch.observer/filing/0001437749-23-013417.md","text":"https://secwatch.observer/filing/0001437749-23-013417.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/cpsh20230509_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T07:31:33.010878+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0d2b29e231deec0810f6ca8588e19347f3c79c03","claim":"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).","evidence_excerpt":"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”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Rockland Trust Company"},{"label":"Value","value":"revolving line of credit of the lesser of $3.0 million and 80% of the aggregate of eligible accounts"},{"label":"Effective","value":"2023-05-05"}],"fact_type":"material_agreement"},{"claim_id":"1d3366a74f8c28067912c42569d622f0c9a76453","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"The Massachusetts Business Development Corporation"},{"label":"Value","value":"Terminated $2.5 million line of credit"},{"label":"Effective","value":"2023-05-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}