NAI obtains Wells Fargo waiver for loan covenant defaults after Q1 net loss exceeded $250K cap

NATURAL ALTERNATIVES INTERNATIONAL INC

Q1 FY2026 breached maximum net loss covenant (actual loss >$250K) and fixed charge coverage ratio (<1.0x).
Wells Fargo waived both defaults via Waiver and Release Agreement dated Dec 12, 2025; loan documents remain in effect.
NAI paid a $10,000 waiver fee and reimbursed lender legal fees to obtain the waiver.
Revolving credit line previously reduced to $10M (from $20M) with maturity extended to Dec 31, 2026.
Management represents no other defaults exist as of the waiver date.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NATURAL ALTERNATIVES INTERNATIONAL INC entered into Waiver and Release Agreement with Wells Fargo Bank, National Association (effective 2025-12-17).

Action: entry
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Effective: 2025-12-17

Exact text from the filing

On December 17, 2025 NAI and Wells Fargo entered into a Waiver and Release Agreement in connection with the Credit Agreement.

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Source: SEC EDGAR

accession 0001437749-25-038181

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