secwatch.observer — SEC 8-K summary
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Issuer:     CUMBERLAND PHARMACEUTICALS INC (CPIX)
CIK:        0001087294
Form:       8-K
Filed at:   2023-09-06T23:59:59+00:00
Accession:  0001628280-23-031458
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/0001628280-23-031458-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1087294/000162828023031458/cpix-20230905.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-031458

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