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

Issuer:     RCI HOSPITALITY HOLDINGS, INC. (RICK)
CIK:        0000935419
Form:       8-K
Filed at:   2023-03-15T23:59:59+00:00
Accession:  0001628280-23-008115
Event type: debt
Sentiment:  neutral
Materiality: 0.45
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RCI Hospitality subsidiary closes $10M credit line for nightclub acquisitions
-----------------------------------------------------------------------------

- $10M line from Centennial Bank; initial advance used to buy five nightclubs in Dallas/Ft. Worth and Houston, TX.
- Interest-only payments at Prime + 1%; initial 24-month term; converts to $5M revolver after principal repaid to $5M.
- Guaranteed by parent RCI Hospitality Holdings and CEO Eric Langan; UCC-1 blanket lien on all business assets.
- Non-usage fee of 0.5% applies if average outstanding balance <$3M over prior 12 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/935419/000162828023008115/0001628280-23-008115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/935419/000162828023008115/rick-20230309.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-008115

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