secwatch.observer — SEC 8-K summary
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Issuer:     Flux Power Holdings, Inc. (FLUX)
CIK:        0001083743
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001493152-23-026533
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 1.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flux Power secures $15M credit facility from Gibraltar Business Capital, refinances SVB debt
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- $15.0M revolving credit facility with Gibraltar Business Capital, matures July 28, 2025, with no warrants.
- Interest rate at SOFR plus 5.50% per annum; includes a $112,500 non-refundable closing fee.
- Facility used to repay $5.035M principal plus $74,598 interest to Silicon Valley Bank, terminating prior credit agreement.
- Company can increase facility to $20M in $1M increments, subject to GBC approval.
- Bank of America selected as new cash management and operational banking partner.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083743/000149315223026533/0001493152-23-026533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083743/000149315223026533/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-026533

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