---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-019355"
form_type: "8-K"
ticker: "CYAN"
cik: "0000768408"
company_name: "CYANOTECH CORP"
filed_at: "2023-07-05T23:59:59+00:00"
generated_at: "2026-06-13T12:57:16.171933+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-019355
- form_type: 8-K
- ticker: CYAN
- cik: 0000768408
- company_name: CYANOTECH CORP
- filed_at: 2023-07-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/768408/000143774923019355/0001437749-23-019355-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/768408/000143774923019355/cyan20230703_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-019355
- JSON: https://secwatch.observer/filing/0001437749-23-019355.json
- Plain text: https://secwatch.observer/filing/0001437749-23-019355.txt

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