secwatch.observer — SEC 8-K summary
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Issuer:     Optex Systems Holdings Inc (OPXS)
CIK:        0001397016
Form:       8-K
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001493152-23-008924
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/0001493152-23-008924-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397016/000149315223008924/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-008924

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