---
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"
generated_at: "2026-06-05T04:24:03.849568+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Nortech Systems replaces $16M asset-backed line with $15M revolver from BofA, maturing 2027

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-006635
- JSON: https://secwatch.observer/filing/0001437749-24-006635.json
- Plain text: https://secwatch.observer/filing/0001437749-24-006635.txt

## Key facts
- Material Agreements
  NORTECH SYSTEMS INC entered into Revolver with Bank of America, N.A. valued at $15 million (effective 2024-02-29).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Value: $15 million
  - Effective: 2024-02-29
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/722313/000143774924006635/0001437749-24-006635-index.htm

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