Cyanotech signs LOI to double revolving credit line to $2M with related-party lender

CYANOTECH CORP

LOI between Cyanotech and Skywords (controlled by Chairman Michael Davis) to increase revolving borrowing capacity under promissory note from $1M to $2M.
Current outstanding principal on note is $1M; borrowed balance is $750,000 as of LOI date.
Second Amendment subject to definitive documentation, First Foundation Bank consent, and USDA approval.

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