secwatch.observer — SEC 8-K summary
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Issuer:     ZRCN Inc. (—)
CIK:        0001901297
Form:       8-K
Filed at:   2025-09-25T23:59:59+00:00
Accession:  0001493152-25-014988
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ZRCN receives default notice for EBITDA covenant breach under credit agreement
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- Received Notice of Default on September 17, 2025 from lender FGI Worldwide LLC for breaching minimum EBITDA covenant.
- Default arose under forbearance agreement entered July 15, 2025; lender may accelerate debt or foreclose on assets.
- Lender has not yet demanded payment or exercised remedies; company continues discussions but no assurance of resolution.
- Credit Agreement dated May 31, 2024; EBITDA covenant was part of forbearance amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1901297/000149315225014988/0001493152-25-014988-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1901297/000149315225014988/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-014988

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