---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-038181"
form_type: "8-K"
ticker: "NAII"
cik: "0000787253"
company_name: "NATURAL ALTERNATIVES INTERNATIONAL INC"
filed_at: "2025-12-17T23:59:59+00:00"
generated_at: "2026-05-16T12:58:52.522380+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-25-038181
- form_type: 8-K
- ticker: NAII
- cik: 0000787253
- company_name: NATURAL ALTERNATIVES INTERNATIONAL INC
- filed_at: 2025-12-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/787253/000143774925038181/0001437749-25-038181-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/787253/000143774925038181/naii20251217_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-038181
- JSON: https://secwatch.observer/filing/0001437749-25-038181.json
- Plain text: https://secwatch.observer/filing/0001437749-25-038181.txt

## Key facts
- Material Agreements
  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
  source text: On December 17, 2025 NAI and Wells Fargo entered into a Waiver and Release Agreement in connection with the Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/787253/000143774925038181/0001437749-25-038181-index.htm

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