secwatch.observer — SEC 8-K summary
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Issuer:     VIRCO MFG CORPORATION (VIRC)
CIK:        0000751365
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0001628280-23-019162
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Virco secures $72.5M seasonal credit line increase; inventory sublimit raised to $35M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/0001628280-23-019162-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/751365/000162828023019162/virc-20230519.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-019162

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