---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-003146"
form_type: "8-K"
ticker: "AGX"
cik: "0000100591"
company_name: "ARGAN INC"
filed_at: "2023-03-08T23:59:59+00:00"
generated_at: "2026-06-18T08:09:27.272070+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Argan amends $50M credit facility to replace LIBOR with SOFR plus 1.6%

## Summary
- Second Amendment to $50M credit facility with Bank of America effective March 6, 2023.
- 30-day LIBOR plus 1.6% replaced with SOFR plus 1.6% for Term SOFR and Daily Simple SOFR loans.
- Adds SOFR successor rate provisions, including Daily Simple SOFR plus 0.10% adjustment.
- Credit facility size unchanged at $50M; $11.1M was outstanding prior to amendment.
- Conforming changes to base rate, interest periods, and illegality provisions added.

## SEC filing metadata
- accession: 0001558370-23-003146
- form_type: 8-K
- ticker: AGX
- cik: 0000100591
- company_name: ARGAN INC
- filed_at: 2023-03-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100591/000155837023003146/0001558370-23-003146-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100591/000155837023003146/agx-20230306x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-003146
- JSON: https://secwatch.observer/filing/0001558370-23-003146.json
- Plain text: https://secwatch.observer/filing/0001558370-23-003146.txt

## Key facts
- Material Agreements
  ARGAN INC amended Second Amendment with Bank of America, N.A. valued at $50 million (effective 2023-03-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Value: $50 million
  - Effective: 2023-03-06
  source text: On March 6, 2023, Argan, Inc. (the “Company”) and certain of its subsidiaries, entered into the Second Amendment (the “Second Amendment”) to the Amended and Restated Replacement Credit Agreement which provides for a $50 million credit commitment (the “Credit Facility”) with Bank of America, N.A., as the lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100591/000155837023003146/0001558370-23-003146-index.htm

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