---
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"
generated_at: "2026-06-15T07:31:33.010878+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "medium"
source: SEC EDGAR
---

# CPS Technologies enters $3M revolving credit facility with Rockland Trust, replaces prior $2.5M line

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: medium
- sec_items: 1.01, 1.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-013417
- JSON: https://secwatch.observer/filing/0001437749-23-013417.json
- Plain text: https://secwatch.observer/filing/0001437749-23-013417.txt

## Key facts
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm

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