---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-024770"
form_type: "8-K"
ticker: "CULP"
cik: "0000723603"
company_name: "CULP INC"
filed_at: "2022-06-29T23:59:59+00:00"
generated_at: "2026-06-24T22:29:50.094254+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# Culp enters $40M credit facility; extends maturity to June 2025; reports Q4 earnings

## Summary
- Revolving credit facility increased to $40M from $30M; secured by assets; matures June 2025.
- SOFR-based pricing with initial margin 1.35% (range 1.35%-2.50%) depending on debt/EBITDA.
- Financial covenants: min tangible net worth $100M+50% net income; EBITDA/interest ≥3.0, waived first 3 quarters FY2023 with min $15M liquidity.
- Press release for Q4 and FY2022 results furnished; specific financial figures not included in available filing text.

## SEC filing metadata
- accession: 0001564590-22-024770
- form_type: 8-K
- ticker: CULP
- cik: 0000723603
- company_name: CULP INC
- filed_at: 2022-06-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 1.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723603/000156459022024770/0001564590-22-024770-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723603/000156459022024770/culp-8k_20220629.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-024770
- JSON: https://secwatch.observer/filing/0001564590-22-024770.json
- Plain text: https://secwatch.observer/filing/0001564590-22-024770.txt

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