---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-029952"
form_type: "8-K"
ticker: "PRKA"
cik: "0001297937"
company_name: "PARKS AMERICA, INC"
filed_at: "2026-06-24T21:14:24+00:00"
generated_at: "2026-06-24T21:16:40.717002+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Parks America subsidiary refinances $2.33M term loan with Cendera Bank, removes $2.5M cash collateral requirement

## Summary
- Principal $2.33M; maturity June 1, 2033; 25-year amortization with balloon.
- Initial variable rate SOFR+2.70% (6.34%) swapped to fixed 6.99% via rate conversion agreement with SouthState Bank.
- Refinancing removes $2.5M cash collateral reserve required under original September 2024 term loan.
- Minimum Debt Service Coverage Ratio of 1.20x required for both guarantor and borrower on trailing 12 months.
- Loan secured by substantially all Aggieland-Parks assets; parent Parks America guarantees.

## SEC filing metadata
- accession: 0001493152-26-029952
- form_type: 8-K
- ticker: PRKA
- cik: 0001297937
- company_name: PARKS AMERICA, INC
- filed_at: 2026-06-24T21:14:24+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1297937/000149315226029952/0001493152-26-029952-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1297937/000149315226029952/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-029952
- JSON: https://secwatch.observer/filing/0001493152-26-029952.json
- Plain text: https://secwatch.observer/filing/0001493152-26-029952.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.