---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-024061"
form_type: "8-K"
ticker: "CYAN"
cik: "0000768408"
company_name: "CYANOTECH CORP"
filed_at: "2023-08-17T23:59:59+00:00"
generated_at: "2026-06-11T08:07:52.453986+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Cyanotech increases revolving credit facility with Skywords from $1M to $2M

## Summary
- Second Amendment to Amended and Restated Promissory Note increases maximum revolving amount from $1,000,000 to $2,000,000.
- Outstanding principal balance on note was $1,000,000 and on revolver $750,000 as of August 14, 2023.
- Lender Skywords Family Foundation is controlled by Chairman/largest stockholder Michael Davis, a related-party transaction.
- All other terms of the Note remain unchanged.

## SEC filing metadata
- accession: 0001437749-23-024061
- form_type: 8-K
- ticker: CYAN
- cik: 0000768408
- company_name: CYANOTECH CORP
- filed_at: 2023-08-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/768408/000143774923024061/0001437749-23-024061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/768408/000143774923024061/cyan20230814_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-024061
- JSON: https://secwatch.observer/filing/0001437749-23-024061.json
- Plain text: https://secwatch.observer/filing/0001437749-23-024061.txt

## Key facts
- Material Agreements
  CYANOTECH CORP amended Second Amendment with Skywords Family Foundation, Inc. valued at $1,000,000 to $2,000,000 (effective 2023-08-14).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Skywords Family Foundation, Inc.
  - Value: $1,000,000 to $2,000,000
  - Effective: 2023-08-14
  source text: On August 14, 2023, Cyanotech Corporation (the "Company") entered into a Second Amendment (the "Amendment") to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc. ("Skywords"), dated as of April 12, 2021 and amended on December 14, 2022 (the "Note").
  evidence_url: https://www.sec.gov/Archives/edgar/data/768408/000143774923024061/0001437749-23-024061-index.htm

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