{"schema_version":"secwatch.filing_event.v1","accession":"0001553350-23-000011","form_type":"8-K","ticker":"PDEX","cik":"0000788920","company_name":"PRO DEX INC","filed_at":"2023-01-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.091581+00:00","generated_at":"2026-06-20T19:59:19.911150+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Pro-Dex expands credit facilities to $10M, extends maturity to Dec 2024","bullets":["Revolving line increased from $2M to $7M; maturity extended from Nov 2023 to Dec 29, 2024.","New $3M supplemental revolving credit added for acquisitions and share repurchases; no draws yet.","Interest rate: greater of 5% or one-month SOFR plus 2.5%; loan origination fees of $16,000.","As of Dec 29, $2.8M drawn on revolver; covenants include Senior Cash Flow Leverage Ratio and borrowing base (80% AR/50% inventory)."],"urls":{"canonical":"https://secwatch.observer/filing/0001553350-23-000011","json":"https://secwatch.observer/filing/0001553350-23-000011.json","markdown":"https://secwatch.observer/filing/0001553350-23-000011.md","text":"https://secwatch.observer/filing/0001553350-23-000011.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/0001553350-23-000011-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/pdex_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T19:59:19.911150+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":"baea0289a1c6d366268762283c26984057575f9e","claim":"PRO DEX INC amended revolving credit of from $2,000,000 to $7,000,000 with Minnesota Bank and Trust, a division of HTLF Bank at greater of (a) 5.0% or (b) SOFR for a one-month period from the website of the C maturing December 29, 2024.","evidence_excerpt":"The Revolving Note has been amended to extend the maturity date of the Company’s existing revolving credit note with MBT from November 5, 2023 to December 29, 2024, to increase the Revolving Note facility from $2,000,000 to $7,000,000, and to increase the interest rate on the Revolving Note","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/0001553350-23-000011-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"from $2,000,000 to $7,000,000"},{"label":"Counterparty","value":"Minnesota Bank and Trust, a division of HTLF Bank"},{"label":"Rate","value":"greater of (a) 5.0% or (b) SOFR for a one-month period from the website of the C"},{"label":"Maturity","value":"December 29, 2024"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"f120fc9694dfdd2707f173990f74b20a9accaf51","claim":"PRO DEX INC incurred revolving credit of $3,000,000 with Minnesota Bank and Trust, a division of HTLF Bank at greater of (a) 5.0% or (b) SOFR for a one-month period from the website of the C maturing December 29, 2024.","evidence_excerpt":"provides for a supplemental line of credit in the amount of $3,000,000 (the “Supplemental Note”)","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/0001553350-23-000011-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$3,000,000"},{"label":"Counterparty","value":"Minnesota Bank and Trust, a division of HTLF Bank"},{"label":"Rate","value":"greater of (a) 5.0% or (b) SOFR for a one-month period from the website of the C"},{"label":"Maturity","value":"December 29, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"726138ac839630a0131b31f69ca719cab8eb5c15","claim":"PRO DEX INC amended Amendment No. 2 to Amended and Restated Credit Agreement with Minnesota Bank and Trust, a division of HTLF Bank valued at $3,000,000 (effective 2022-12-29).","evidence_excerpt":"On December 29, 2022 (the “Amendment Date”), Pro-Dex, Inc. (the “Company”) entered into Amendment No. 2 to Amended and Restated Credit Agreement (the “Amendment”) with Minnesota Bank and Trust, a division of HTLF Bank (“MBT”), successor by merger to Minnesota Bank and Trust, which amends the Company’s Amended and Restated Credit Agreement and Amended and Restated Revolving Credit Note with MBT (as amended, the “Credit Agreement” and “Revolving Note,” respectively) and provides for a supplemental line of credit in the amount of $3,000,000 (the “Supplemental Note”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/0001553350-23-000011-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Minnesota Bank and Trust, a division of HTLF Bank"},{"label":"Value","value":"$3,000,000"},{"label":"Effective","value":"2022-12-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}