secwatch.observer — SEC 8-K summary
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Issuer:     PARKS AMERICA, INC (PRKA)
CIK:        0001297937
Form:       8-K
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001493152-24-039587
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parks America subsidiary refinances $2.5M term loan with Cendera; pays off prior First Financial loan
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- Aggieland-Parks entered $2.5M term loan with Cendera at Prime minus 0.50% (7.5% initial), 10-year term, 15-year amort.
- Proceeds paid off $2.39M outstanding on 2020 First Financial loan (5% fixed, $53,213 monthly).
- New loan initial monthly payment ~$23,200; secured by AWAS assets plus $2.5M cash collateral from Focus Compounding.
- Approximately $56,500 in fees and expenses paid for the refinancing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1297937/000149315224039587/0001493152-24-039587-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1297937/000149315224039587/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-039587

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