Karat Packaging increases standby LC sublimit to $5M under existing Hanmi Bank line

Karat Packaging Inc.

Amendment dated June 20, 2023 raises standby letter of credit sublimit to $5M.
Existing $40M line of credit remains unchanged; secured by company assets.
No commitment fee on undrawn portion; interest payable monthly.
Agreement is with Lollicup USA Inc. as borrower; Hanmi Bank as lender.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Karat Packaging Inc. amended Amendment with Hanmi Bank valued at $5,000,000 (effective 2023-06-20).

Action: amendment
Agreement: credit facility
Counterparty: Hanmi Bank
Value: $5,000,000
Effective: 2023-06-20

Exact text from the filing

The Line of Credit also includes a standby letter of credit sublimit, which was amended and increased to $5,000,000 on June 20, 2023 (the "Amendment").

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Source: SEC EDGAR

accession 0001628280-23-023159

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