secwatch.observer — SEC 8-K summary
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Issuer:     Omega Flex, Inc. (OFLX)
CIK:        0001317945
Form:       8-K
Filed at:   2023-07-05T23:59:59+00:00
Accession:  0001493152-23-023446
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Omega Flex enters $15M unsecured revolving credit facility with Santander Bank
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- $15M revolving credit line, unsecured, matures June 1, 2028.
- Interest rate: Term SOFR + 0.75%-1.75% or Prime rate + up to 0.50%, based on leverage.
- Includes $1M letter of credit sublimit; no borrowings outstanding at signing.
- Unused fee of 10 bps per quarter; annual commitment fee of $5,000.
- Facility amends and restates prior credit agreements; proceeds for working capital and corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1317945/000149315223023446/0001493152-23-023446-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1317945/000149315223023446/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-023446

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