---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-021275"
form_type: "8-K"
ticker: "GLGI"
cik: "0001088413"
company_name: "GREYSTONE LOGISTICS, INC."
filed_at: "2022-08-04T23:59:59+00:00"
generated_at: "2026-06-24T03:40:38.681346+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Greystone Logistics enters amended $7.85M term loan and $6M revolver with IBC

## Summary
- Term loan of $7,854,707.54 consolidates existing debt, pays $3,271,986.98 to officer Robert Rosene, and funds $1,912,828.89 in iGPS equipment purchases.
- New advancing term loan facility of up to $7,000,000; revolving line increased from $4M to $6M, maturing July 29, 2024.
- Interest at higher of Prime rate plus 0.5% or 4.5% on both facilities; term loans amortize over 7 years through July 2027.
- Covenants: debt service coverage ratio of 1.25:1, funded debt to EBIDA ratio of 3:1, dividends capped at $500,000/yr on preferred stock, capital expenditures limited to $2M/yr.
- Limited guarantees: Kruger (32.4% of debt) and Rosene ($3.5M, reducing with principal payments); collateral on substantially all assets.

## SEC filing metadata
- accession: 0001493152-22-021275
- form_type: 8-K
- ticker: GLGI
- cik: 0001088413
- company_name: GREYSTONE LOGISTICS, INC.
- filed_at: 2022-08-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- 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/1088413/000149315222021275/0001493152-22-021275-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1088413/000149315222021275/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-021275
- JSON: https://secwatch.observer/filing/0001493152-22-021275.json
- Plain text: https://secwatch.observer/filing/0001493152-22-021275.txt

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