{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-019162","form_type":"8-K","ticker":"VIRC","cik":"0000751365","company_name":"VIRCO MFG CORPORATION","filed_at":"2023-05-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.157373+00:00","generated_at":"2026-06-14T18:52:22.133059+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Virco secures $72.5M seasonal credit line increase; inventory sublimit raised to $35M","bullets":["Revolving credit facility increased to $72.5M during June-August 2023 to support peak borrowing.","Inventory sublimit raised to $35M total and ATS sublimit to $15M during May-August 2023.","Amendment fee of $50,000 (0.67% on incremental $7.5M) payable to PNC Bank.","Applicable Margin increased by 25 basis points on all outstanding advances."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-019162","json":"https://secwatch.observer/filing/0001628280-23-019162.json","markdown":"https://secwatch.observer/filing/0001628280-23-019162.md","text":"https://secwatch.observer/filing/0001628280-23-019162.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/0001628280-23-019162-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/virc-20230519.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T18:52:22.133059+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d46b2056adeb31e949e311533d0472ade1759149","claim":"VIRCO MFG CORPORATION amended revolving credit of $72,500,000 with PNC Bank, National Association at Increase in the Applicable Margin (as defined in the Credit Agreement) of 25 bas.","evidence_excerpt":"On May 19, 2023, Virco Mfg. Corporation (the “Company”) and Virco Inc., a wholly owned subsidiary of the Company (together with the Company, the “Borrowers”), entered into Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement (“Amendment No. 3”) with PNC Bank, National Association, as administrative agent and lender (“PNC”), with an effective date of May 5, 2023. Amendment No. 3 amended the Amended and Restated Revolving Credit and Security Agreement, dated September 28, 2021 (the “Credit Agreement”), by and among PNC and the Borrowers and the secured revolving line of credit provided to the Borrowers under the Credit Agreement (the “Revolving Credit Facility”) to reflect the following material changes: i. Maximum size of the Revolving Credit Facility has been increased to $72,500,000 during the months of June through August of 2023, to provide additional availability for the Company's forecast through the 2023 peak borrowing period; ii. Increase in the total","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/0001628280-23-019162-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$72,500,000"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Rate","value":"Increase in the Applicable Margin (as defined in the Credit Agreement) of 25 bas"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"5d8a9500bf762be9303aa824d4297db36f180e72","claim":"VIRCO MFG CORPORATION amended Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement with PNC Bank, National Association (effective 2023-05-19).","evidence_excerpt":"On May 19, 2023, Virco Mfg. Corporation (the “Company”) and Virco Inc., a wholly owned subsidiary of the Company (together with the Company, the “Borrowers”), entered into Amendment No. 3 to Amended and Restated Revolving Credit and Security Agreement (“Amendment No. 3”) with PNC Bank, National Association, as administrative agent and lender (“PNC”), with an effective date of May 5, 2023.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/0001628280-23-019162-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Effective","value":"2023-05-19"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}