secwatch.observer — SEC 8-K summary
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Issuer:     PRO DEX INC (PDEX)
CIK:        0000788920
Form:       8-K
Filed at:   2023-01-05T23:59:59+00:00
Accession:  0001553350-23-000011
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pro-Dex expands credit facilities to $10M, extends maturity to Dec 2024
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/0001553350-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788920/000155335023000011/pdex_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-23-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer