{"schema_version":"secwatch.filing_event.v1","accession":"0001628280-23-031458","form_type":"8-K","ticker":"CPIX","cik":"0001087294","company_name":"CUMBERLAND PHARMACEUTICALS INC","filed_at":"2023-09-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.112064+00:00","generated_at":"2026-06-10T23:13:30.538376+00:00","sec_items":["1.01","1.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.35,"calibrated_materiality_score":0.35,"confidence":"high","headline":"Cumberland enters new $25M credit facility with Pinnacle Bank; prior $5.1M transferred","bullets":["New revolving credit line up to $20M, expandable to $25M, 3-year term to Oct 1, 2026.","Interest at Term SOFR + 2.75%; single financial covenant: Funded Debt Ratio tested quarterly.","Prior $5.1M outstanding balance transferred from old 2017 agreement; no early termination penalties.","Proceeds to be used for working capital and general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0001628280-23-031458","json":"https://secwatch.observer/filing/0001628280-23-031458.json","markdown":"https://secwatch.observer/filing/0001628280-23-031458.md","text":"https://secwatch.observer/filing/0001628280-23-031458.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/cpix-20230905.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T23:13:30.538376+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":"714a2627c2770785d2d06bb43a4e6fbf18fe707c","claim":"CUMBERLAND PHARMACEUTICALS INC incurred revolving credit of up to $25 million with Pinnacle Bank at Term SOFR plus a spread of 2.75% maturing October 1, 2026.","evidence_excerpt":"a new Revolving Credit Loan Agreement with Pinnacle Bank (the “New Pinnacle Agreement”). The New Pinnacle Agreement provides for an aggregate principal funding amount of up to $25 million. It provides an initial revolving line of credit of up to $20 million with the ability for Cumberland to increase the amount to $25 million, under certain conditions. The New","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"up to $25 million"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Rate","value":"Term SOFR plus a spread of 2.75%"},{"label":"Maturity","value":"October 1, 2026"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"47a85caed18073c444446be803e5115aa9bd5817","claim":"CUMBERLAND PHARMACEUTICALS INC terminated Prior Pinnacle Agreement with Pinnacle Bank valued at $5.1 million (effective 2023-09-05).","evidence_excerpt":"Effective upon the execution of the New Pinnacle Agreement described in Item 1.01 above, the prior Revolving Credit Loan Agreement, as amended, originally dated July 28, 2017, by and between the Company and Pinnacle Bank (the \"Prior Pinnacle Agreement\") was terminated.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Value","value":"$5.1 million"},{"label":"Effective","value":"2023-09-05"}],"fact_type":"material_agreement"},{"claim_id":"629a12a82f552661df78a5c0e18e16db4d406519","claim":"CUMBERLAND PHARMACEUTICALS INC entered into New Pinnacle Agreement with Pinnacle Bank valued at $25 million (effective 2023-09-05).","evidence_excerpt":"On September 5, 2023, Cumberland Pharmaceuticals Inc. (the \"Company\" or \"Cumberland\") entered into a new Revolving Credit Loan Agreement with Pinnacle Bank (the \"New Pinnacle Agreement\").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Pinnacle Bank"},{"label":"Value","value":"$25 million"},{"label":"Effective","value":"2023-09-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}