secwatch.observer — SEC 8-K summary
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Issuer:     NATURAL ALTERNATIVES INTERNATIONAL INC (NAII)
CIK:        0000787253
Form:       8-K
Filed at:   2025-12-17T23:59:59+00:00
Accession:  0001437749-25-038181
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/787253/000143774925038181/0001437749-25-038181-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/787253/000143774925038181/naii20251217_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-25-038181

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