secwatch.observer — SEC 8-K summary
======================================

Issuer:     HURCO COMPANIES INC (HURC)
CIK:        0000315374
Form:       8-K
Filed at:   2021-12-23T23:59:59+00:00
Accession:  0001558370-21-017015
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hurco extends credit facility maturity to Dec 2023, switches to SOFR from LIBOR
-------------------------------------------------------------------------------

- Third Amendment to Credit Agreement with Bank of America extends maturity from Dec 2021 to Dec 2023.
- Replaced LIBOR with SOFR for USD loans; SONIA for GBP; EURIBOR for EUR loans; interest premium at 1.00%.
- Minimum tangible net worth covenant increased from $170M to approximately $176.5M.
- Eliminated the springing liquidity covenant from the credit agreement.
- Loan parties reaffirm obligations; successor benchmark rate procedures added.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/315374/000155837021017015/0001558370-21-017015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/315374/000155837021017015/hurc-20211217x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-017015

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