American Shared Hospital Services Receives Notice of Default Under Credit Agreement with Fifth Third Bank

AMERICAN SHARED HOSPITAL SERVICES

Lender asserted Events of Default including failure to maintain $5M minimum cash as of Sep 30, 2025.
Defaults also include failure to comply with Fixed Charge Coverage Ratio and Total Funded Debt Ratio as of Dec 31, 2025.
Borrowers failed to deliver Compliance Certificate for Q1 2026 and did not pay Term Loan and Delayed Draw Term Loan obligations on April 9, 2026.
Lender increased interest to Default Rate (plus 2% per annum) and reserved rights to accelerate obligations.
Company states it lacks sufficient cash to satisfy accelerated payment obligations if lender accelerates.

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