{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-009029","form_type":"8-K","ticker":"NSYS","cik":"0000722313","company_name":"NORTECH SYSTEMS INC","filed_at":"2026-03-06T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.557285+00:00","generated_at":"2026-05-15T19:11:16.621030+00:00","sec_items":["1.01","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Nortech Systems obtains waiver for Q4 2025 covenant breaches; revises credit facility terms","bullets":["Bank of America waived defaults on leverage, fixed charge, and EBITDA covenants for Q4 2025.","New minimum EBITDA targets: $680K for Q1 2026 and $1.559M for Q2 2026.","Revolving commitment reduces from $15M to $12M on April 1, 2026; borrowing base now 80% of eligible assets.","Interest rate increased to SOFR + 3.50%; excess cash above $1.8M must prepay loans.","Foreign subsidiary investments capped at $150K; company negotiating new asset-based facility."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-009029","json":"https://secwatch.observer/filing/0001493152-26-009029.json","markdown":"https://secwatch.observer/filing/0001493152-26-009029.md","text":"https://secwatch.observer/filing/0001493152-26-009029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/722313/000149315226009029/0001493152-26-009029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/722313/000149315226009029/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T19:11:16.621030+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"53d27db6ba402ea94f9820c559ce1dc8eb5006d5","claim":"NORTECH SYSTEMS INC amended Waiver and Amendment No. 4 with Bank of America, N.A. (effective 2026-02-27).","evidence_excerpt":"On February 27, 2026, Nortech Systems Incorporated (the “Company”) entered into a Waiver and Amendment No. 4 to its Credit Agreement with Bank of America, N.A., dated February 27, 2026 (“Waiver and Amendment”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/722313/000149315226009029/0001493152-26-009029-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Effective","value":"2026-02-27"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}