secwatch.observer — SEC 8-K summary
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Issuer:     PARKS AMERICA, INC (PRKA)
CIK:        0001297937
Form:       8-K/A
Filed at:   2026-06-30T20:30:54+00:00
Accession:  0001493152-26-031293
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parks America subsidiary refinances $2.33M term loan, removes $2.5M cash collateral reserve
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- Aggieland-Parks, Inc. entered into $2.33M term loan with Cendera Bank, maturing June 1, 2033.
- Interest rate: 1-month SOFR + 2.70% (initial 6.34%), fixed at 6.99% via rate conversion agreement.
- Refinancing eliminates $2.5M cash collateral reserve previously required, improving liquidity.
- Loan guaranteed by parent Parks America; financial covenant: minimum DSCR of 1.20x.
- Fees and expenses of ~$14,900 paid in connection with the loan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1297937/000149315226031293/0001493152-26-031293-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1297937/000149315226031293/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-031293

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