Strong Global Entertainment, Inc.: debt financing — Strong Global enters CAD$6M demand credit facility with CIBC; amends FG Quebec credit

Strong Global Entertainment, Inc.

Demand operating credit limit: lesser of CAD$6M or 80% receivables + 50% inventory (max $1.5M) minus priority claims.
Business credit card facility limit of CAD$75,000 for purchase and payment of goods/services.
FG Holdings Quebec's existing credit limit reduced from $3.4M to $1.4M; business card removed.
Strong Global guarantees all FG Quebec liabilities to CIBC under the amendment.
Financial covenants: Debt/EBITDA ≤ 3.0x, fixed charge coverage ≥ 1.1x, current ratio ≥ 1.1x.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Strong Global Entertainment, Inc. incurred credit facility of CAD$6,000,000 with Canadian Imperial Bank of Commerce.

Instrument: credit facility
Principal: CAD$6,000,000
Counterparty: Canadian Imperial Bank of Commerce
Event: incurrence

Exact text from the filing

consists of a demand operating credit and a business credit card facility. Under the demand operating credit, with certain conditions, the credit limit is the lesser of (a) CAD$6,000,000 or (b) the sum of (i) 80% of Receivable Value, which includes all North American accounts receivable of Strong/MDI Screen Systems Inc., a British Columbia entity and Strong

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Strong Global Entertainment, Inc. amended Amendment No. 2 to Credit Agreement with Canadian Imperial Bank of Commerce valued at Credit limit decreased from $3,400,000 to $1,400,000; business credit card facility removed; reporti (effective 2024-01-19).

Action: amendment
Agreement: credit facility
Counterparty: Canadian Imperial Bank of Commerce
Value: Credit limit decreased from $3,400,000 to $1,400,000; business credit card facility removed; reporti
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, as a guarantor, the Company also signed a credit agreement which is an amendment (“Amendment No. 2”) entered into by CIBC and FG Quebec.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Strong Global Entertainment, Inc. entered into Demand Credit Agreement with Canadian Imperial Bank of Commerce valued at CAD$6,000,000 demand operating credit and CAD$75,000 business credit card facility (effective 2024-01-19).

Action: entry
Agreement: credit facility
Counterparty: Canadian Imperial Bank of Commerce
Value: CAD$6,000,000 demand operating credit and CAD$75,000 business credit card facility
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, Strong Global Entertainment, Inc. (the “Company”) entered into a demand credit agreement (the “Agreement”) with Canadian Imperial Bank of Commerce (“CIBC”).

View on SEC.gov

283 debt financings filed in the last 30 days. Browse all debt financings →

Source: SEC EDGAR

accession 0001493152-24-003491

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.