{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-24-006635","form_type":"8-K","ticker":"NSYS","cik":"0000722313","company_name":"NORTECH SYSTEMS INC","filed_at":"2024-03-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.754950+00:00","generated_at":"2026-06-05T04:24:03.849568+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Nortech Systems replaces $16M asset-backed line with $15M revolver from BofA, maturing 2027","bullets":["New $15M senior secured revolving credit facility with Bank of America; maturity Feb 29, 2027.","Replaces prior $16M asset-backed line; no termination penalties incurred.","Financial covenants: max leverage 2.5x, minimum fixed charge coverage 1.25x.","Unused commitment fee of 20 bps per quarter; interest at base rate or SOFR plus margin.","Facility secured by substantially all assets; includes standard dividend and capex limits."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-24-006635","json":"https://secwatch.observer/filing/0001437749-24-006635.json","markdown":"https://secwatch.observer/filing/0001437749-24-006635.md","text":"https://secwatch.observer/filing/0001437749-24-006635.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/722313/000143774924006635/0001437749-24-006635-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/722313/000143774924006635/nsys20240304_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T04:24:03.849568+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1291e5ab7d37bab4ff1b49d1ff1d1f53b7c00aac","claim":"NORTECH SYSTEMS INC entered into Revolver with Bank of America, N.A. valued at $15 million (effective 2024-02-29).","evidence_excerpt":"On February 29, 2024, we replaced our asset backed line of credit agreement with $15 million Senior Secured Revolving Line of Credit with Bank of America, N.A. (the “Revolver”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000143774924006635/0001437749-24-006635-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Value","value":"$15 million"},{"label":"Effective","value":"2024-02-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}