ZRCN enters $12.5M senior secured revolving credit facility with Altriarch Holdings; $7.5M drawn

ZRCN Inc.

Loan Agreement provides $12.5M revolving credit facility, maturing March 17, 2029, with option to extend one year.
Interest rate is lesser of Maximum Rate or 3-month SOFR + 8.75%; monthly interest payments begin April 14, 2026.
Prepayment premium of 1.50%/1.00%/0.50% if terminated in year 1/2/3; waived if refinanced by FDIC bank after year 2.
CEO John Stauss is limited guarantor; four largest shareholders pledge common stock as collateral under a Pledge Agreement.
Facility replaces $15M FGI Worldwide loan; proceeds to be used for working capital and debt discharge.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ZRCN Inc. entered into Loan Agreement with Altriarch Holdings SPV, LLC valued at $12.5 million senior secured revolving credit facility (effective 2026-03-17).

Action: entry
Agreement: credit facility
Counterparty: Altriarch Holdings SPV, LLC
Value: $12.5 million senior secured revolving credit facility
Effective: 2026-03-17

Exact text from the filing

On March 17, 2026 (the “Effective Date”), ZRCN Inc., a Delaware corporation (the “Company”), and its wholly owned subsidiary, Zircon Corporation, a California corporation (“Zircon” and collectively with the Company, the “Debtor”), entered into a Loan and Security Agreement (the “Loan Agreement”) with Altriarch Holdings SPV, LLC, as lender (“Lender”).

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Source: SEC EDGAR

accession 0001493152-26-012118

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