secwatch.observer — SEC 8-K summary
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Issuer:     CYANOTECH CORP (CYAN)
CIK:        0000768408
Form:       8-K
Filed at:   2023-07-05T23:59:59+00:00
Accession:  0001437749-23-019355
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768408/000143774923019355/0001437749-23-019355-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768408/000143774923019355/cyan20230703_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-019355

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