Escalade amends credit agreement: revolver cut to $60M, adds interest coverage covenant of 3.50x

ESCALADE INC

Maximum revolver reduced from $75M to $60M; accordion feature allows increase up to $85M.
Fixed charge coverage ratio replaced by minimum interest coverage ratio of 3.50:1.00, effective September 30, 2024.
Restricted payments cap: if Funded Debt/EBITDA >1.75, combined cash dividends and share repurchases limited to $12M in trailing 12 months.
Pricing improved: two Applicable Rate categories eliminated, reducing margins when leverage above 3.0x.
Borrowing base certificates now required monthly instead of quarterly; maturity remains January 21, 2027.

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