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

Issuer:     ARGAN INC (AGX)
CIK:        0000100591
Form:       8-K
Filed at:   2023-03-08T23:59:59+00:00
Accession:  0001558370-23-003146
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100591/000155837023003146/0001558370-23-003146-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100591/000155837023003146/agx-20230306x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-003146

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