---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-008924"
form_type: "8-K"
ticker: "OPXS"
cik: "0001397016"
company_name: "Optex Systems Holdings Inc"
filed_at: "2023-03-24T23:59:59+00:00"
generated_at: "2026-06-17T16:24:00.530658+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Optex Systems enters $3M revolving credit facility with Texas Capital Bank, replacing PNC line

## Summary
- New $3M revolving line of credit from Texas Capital Bank, maturing May 22, 2025.
- Interest at SOFR plus margin, currently 7.501% per annum; $125K letter of credit sublimit.
- Replaces existing $2M line with PNC Bank; PNC facility terminated and repaid in full with no penalties.
- Financial covenants require fixed charge coverage ratio >=1.25:1 and total leverage ratio <=3.00:1.
- Credit facility secured by substantially all operating assets of borrower and subsidiary.

## SEC filing metadata
- accession: 0001493152-23-008924
- form_type: 8-K
- ticker: OPXS
- cik: 0001397016
- company_name: Optex Systems Holdings Inc
- filed_at: 2023-03-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/0001493152-23-008924-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-008924
- JSON: https://secwatch.observer/filing/0001493152-23-008924.json
- Plain text: https://secwatch.observer/filing/0001493152-23-008924.txt

## Key facts
- Debt Financings
  Optex Systems Holdings Inc incurred revolving credit of $3 million with Texas Capital Bank at SOFR plus a specified margin maturing May 22, 2025.
  - Instrument: revolving credit
  - Principal: $3 million
  - Counterparty: Texas Capital Bank
  - Rate: SOFR plus a specified margin
  - Maturity: May 22, 2025
  - Event: incurrence
  source text: On March 22, 2023, Optex Systems Holdings, Inc., a Delaware corporation (the “Company”), and its subsidiary, Optex Systems, Inc. (“Optex”, and with the Company, the “Borrowers”), entered into a Business Loan Agreement (the “Loan Agreement”) with Texas Capital Bank (the “Lender”), pursuant to which the Lender will make available to the Borrowers a revolving line of credit in the principal amount of $3 million (the “Credit Facility”). The commitment period for advances under the Credit Facility is twenty-six months expiring on May 22, 2025. We refer to the expiration of that time period as the “Maturity Date.” Outstanding advances under the Credit Facility will accrue interest at a rate equal to the secured overnight financing rate (SOFR) plus a specified margin, subject to a specified floor interest rate. The interest rate is currently at 7.501% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/0001493152-23-008924-index.htm
- Material Agreements
  Optex Systems Holdings Inc terminated PNC Loan Agreement with PNC Bank (effective 2023-03-22).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: PNC Bank
  - Effective: 2023-03-22
  source text: On March 22, 2023, in connection with entering into the Loan Agreement as disclosed in Item 1.01, the Company terminated the PNC Loan Agreement, and the indebtedness thereunder was repaid in full.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/0001493152-23-008924-index.htm
- Material Agreements
  Optex Systems Holdings Inc entered into Loan Agreement with Texas Capital Bank valued at $3 million (effective 2023-03-22).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Texas Capital Bank
  - Value: $3 million
  - Effective: 2023-03-22
  source text: On March 22, 2023, Optex Systems Holdings, Inc., a Delaware corporation (the “Company”), and its subsidiary, Optex Systems, Inc. (“Optex”, and with the Company, the “Borrowers”), entered into a Business Loan Agreement (the “Loan Agreement”) with Texas Capital Bank (the “Lender”), pursuant to which the Lender will make available to the Borrowers a revolving line of credit in the principal amount of $3 million (the “Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/0001493152-23-008924-index.htm

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