AMERICAN SHARED HOSPITAL SERVICES (AMS): debt financing — American Shared Hospital Services enters $2.7M term loan amendment with Fifth Third Bank

AMERICAN SHARED HOSPITAL SERVICES

Added Supplemental Term Loan of $2.7M for capital expenditures related to Puebla, Mexico operations.
Loan matures January 25, 2030; interest at SOFR + 3.00% with no prepayment fees.
Loan is secured by substantially all assets of the company and certain domestic subsidiaries.
Amendment also replaced LIBOR-based rates with SOFR-based rates under the credit agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES incurred term loan of $2.7 million with Fifth Third Bank, National Association at SOFR plus 3.00% maturing 2024-01-25 to 2030-01-25.

Instrument: term loan
Principal: $2.7 million
Counterparty: Fifth Third Bank, National Association
Rate: SOFR plus 3.00%
Maturity: 2024-01-25 to 2030-01-25
Event: incurrence

Exact text from the filing

The First Amendment added a new term loan in the aggregate principal amount of $2.7 million (the

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES amended credit facility with Fifth Third Bank, National Association at SOFR plus 3.00%.

Instrument: credit facility
Counterparty: Fifth Third Bank, National Association
Rate: SOFR plus 3.00%
Event: amendment

Exact text from the filing

The First Amendment also replaces the LIBOR-based rates in the Credit Agreement with SOFR-based rates.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

AMERICAN SHARED HOSPITAL SERVICES amended First Amendment to Credit Agreement with Fifth Third Bank, National Association valued at $2.7 million (effective 2024-01-25).

Action: amendment
Agreement: credit facility
Counterparty: Fifth Third Bank, National Association
Value: $2.7 million
Effective: 2024-01-25

Exact text from the filing

On January 25, 2024 (the “First Amendment Effective Date”), American Shared Hospital Services (the “Company”), along with certain of its domestic subsidiaries, entered into a First Amendment to Credit Agreement (the “First Amendment”) with Fifth Third Bank, National Association (the “Lender”), amending that certain Credit Agreement dated April 9, 2021 by and among the Company, certain of its domestic subsidiaries and the Lender (the “Credit Agreement”). The First Amendment added a new term loan in the aggregate principal amount of $2.7 million (the “Supplemental Term Loan”).

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Source: SEC EDGAR

accession 0001437749-24-002708

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