---
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"
generated_at: "2026-06-10T23:13:30.538376+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# Cumberland enters new $25M credit facility with Pinnacle Bank; prior $5.1M transferred

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-031458
- JSON: https://secwatch.observer/filing/0001628280-23-031458.json
- Plain text: https://secwatch.observer/filing/0001628280-23-031458.txt

## Key facts
- Debt Financings
  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.
  - Instrument: revolving credit
  - Principal: up to $25 million
  - Counterparty: Pinnacle Bank
  - Rate: Term SOFR plus a spread of 2.75%
  - Maturity: October 1, 2026
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm
- Material Agreements
  CUMBERLAND PHARMACEUTICALS INC terminated Prior Pinnacle Agreement with Pinnacle Bank valued at $5.1 million (effective 2023-09-05).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Pinnacle Bank
  - Value: $5.1 million
  - Effective: 2023-09-05
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm
- Material Agreements
  CUMBERLAND PHARMACEUTICALS INC entered into New Pinnacle Agreement with Pinnacle Bank valued at $25 million (effective 2023-09-05).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Pinnacle Bank
  - Value: $25 million
  - Effective: 2023-09-05
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.