secwatch.observer — SEC 8-K summary
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Issuer:     SHYFT GROUP, INC. (—)
CIK:        0000743238
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001437749-24-010088
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shyft Group reduces revolving credit facility from $400M to $300M; margins increased
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- Revolving credit commitments cut from $400M to $300M across four lenders.
- Applicable margin for term SOFR and base rate loans increased under the amendment.
- Maximum leverage ratio temporarily raised; debt calculation adjusted for leverage test.
- Consent fee of 0.10% of each consenting lender's commitment paid as of the effective date.
- Amendment dated March 27, 2024, with Wells Fargo, JPMorgan, PNC, and Bank of America.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/743238/000143774924010088/0001437749-24-010088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/743238/000143774924010088/shyf20240327_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-010088

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer