---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-029858"
form_type: "8-K"
ticker: "CULP"
cik: "0000723603"
company_name: "CULP INC"
filed_at: "2022-08-22T23:59:59+00:00"
generated_at: "2026-06-23T22:23:20.716741+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Culp amends credit agreement, waives EBITDA covenant for FY2023, imposes $15M liquidity minimum

## Summary
- EBITDA-to-interest expense covenant suspended for fiscal quarters ending July 2022, Oct 2022, Jan 2023, Apr 2023.
- New liquidity covenant requires minimum $15M of unencumbered liquid assets plus available revolver borrowings.
- Amendment fee of $5,000 paid to Wells Fargo; all other credit terms unchanged.
- Borrower reaffirms representations and warranties; certifies no event of default exists.

## SEC filing metadata
- accession: 0001564590-22-029858
- form_type: 8-K
- ticker: CULP
- cik: 0000723603
- company_name: CULP INC
- filed_at: 2022-08-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723603/000156459022029858/0001564590-22-029858-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723603/000156459022029858/culp-8k_20220819.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-029858
- JSON: https://secwatch.observer/filing/0001564590-22-029858.json
- Plain text: https://secwatch.observer/filing/0001564590-22-029858.txt

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