secwatch.observer — SEC 8-K summary
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Issuer:     CYANOTECH CORP (CYAN)
CIK:        0000768408
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001437749-24-026409
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cyanotech ups revolving credit to $4M, extends note maturity to 2027
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- Revolving borrowing capacity increased from $2M to $4M under promissory note with Skywords Family Foundation.
- Maturity of revolver extended to April 12, 2026; term loan maturity extended to April 12, 2027.
- Outstanding balances as of amendment: $1M on term note and $1.5M on revolver.
- Skywords is controlled by Chairman and largest stockholder Michael Davis; related-party transaction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/768408/000143774924026409/0001437749-24-026409-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/768408/000143774924026409/cyan20240813_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-026409

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