secwatch.observer — SEC 8-K summary
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Issuer:     CPS TECHNOLOGIES CORP/DE/ (CPSH)
CIK:        0000814676
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001437749-23-013417
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/0001437749-23-013417-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/814676/000143774923013417/cpsh20230509_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-013417

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