---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-008828"
form_type: "8-K"
ticker: "AGX"
cik: "0000100591"
company_name: "ARGAN INC"
filed_at: "2024-05-31T23:59:59+00:00"
generated_at: "2026-06-01T07:03:27.432316+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Argan enters new $35M credit facility with Bank of America, expands total capacity

## Summary
- Base commitment reduced from $50M to $35M, but accordion increased from $10M to $30M, allowing up to $65M.
- Revolving loans bear interest at SOFR + 1.85%; letter of credit fees adjusted to market.
- New $25M companion facility for Irish subsidiary (APCL) for LCs, secured by parent guarantee.
- Credit agreement matures May 31, 2027; replaces prior 2017 facility.
- Total potential credit capacity including accordion and companion facility is $90M.

## SEC filing metadata
- accession: 0001558370-24-008828
- form_type: 8-K
- ticker: AGX
- cik: 0000100591
- company_name: ARGAN INC
- filed_at: 2024-05-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100591/000155837024008828/0001558370-24-008828-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100591/000155837024008828/agx-20240524x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-008828
- JSON: https://secwatch.observer/filing/0001558370-24-008828.json
- Plain text: https://secwatch.observer/filing/0001558370-24-008828.txt

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