---
schema_version: "secwatch.filing_event.v1"
accession: "0001553350-23-000035"
form_type: "8-K"
ticker: "ASPU"
cik: "0001487198"
company_name: "ASPEN GROUP, INC."
filed_at: "2023-01-19T23:59:59+00:00"
generated_at: "2026-06-20T13:04:46.930681+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.2
calibrated_materiality_score: 0.2
confidence: "high"
source: SEC EDGAR
---

# Aspen Group removes borrowing restriction on $20M lines of credit

## Summary
- Second Amendment removes prohibition on drawing down under $20M secured revolving lines of credit.
- Insurance company's surety bond reduced from $18.3M to $5.5M; restriction was lifted.
- No sums have been borrowed to date; company does not anticipate future drawdowns.
- Amendment follows earlier First Amendment that had restricted draws while surety bond was outstanding.

## SEC filing metadata
- accession: 0001553350-23-000035
- form_type: 8-K
- ticker: ASPU
- cik: 0001487198
- company_name: ASPEN GROUP, INC.
- filed_at: 2023-01-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.2
- calibrated_materiality_score: 0.2
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1487198/000155335023000035/0001553350-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1487198/000155335023000035/aspu_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001553350-23-000035
- JSON: https://secwatch.observer/filing/0001553350-23-000035.json
- Plain text: https://secwatch.observer/filing/0001553350-23-000035.txt

## Key facts
- Material Agreements
  ASPEN GROUP, INC. amended Second Amendment with certain lenders (effective 2023-01-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: certain lenders
  - Effective: 2023-01-12
  source text: the Company and certain lenders entered into a Second Amendment (the “Second Amendment”) to the Intercreditor Agreement, which removed a provision which was added by the First Amendment (the “First Amendment”) restricting the Company’s ability to draw down from the Lines of Credit while the insurance company’s surety bond remained outstanding
  evidence_url: https://www.sec.gov/Archives/edgar/data/1487198/000155335023000035/0001553350-23-000035-index.htm

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