---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-055114"
form_type: "8-K"
ticker: "DAKT"
cik: "0000915779"
company_name: "DAKTRONICS INC /SD/"
filed_at: "2025-12-03T23:59:59+00:00"
generated_at: "2026-05-16T15:34:52.289110+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Daktronics enters new $71.5M credit facility, replacing prior $75M revolver

## Summary
- New Credit Agreement provides $60M revolver and $11.5M term loan, maturing November 26, 2028.
- Prior $75M facility terminated; no material early termination penalties incurred.
- Interest at Adjusted Term SOFR +0.10% or CB Floating Rate; commitment fee 0.20% on undrawn revolver.
- Financial covenants: max total leverage ratio 3.00x, min fixed charge coverage 1.25x.
- Proceeds used to refinance existing debt and for working capital and general corporate purposes.

## SEC filing metadata
- accession: 0001628280-25-055114
- form_type: 8-K
- ticker: DAKT
- cik: 0000915779
- company_name: DAKTRONICS INC /SD/
- filed_at: 2025-12-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/0001628280-25-055114-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/dakt-20251126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-055114
- JSON: https://secwatch.observer/filing/0001628280-25-055114.json
- Plain text: https://secwatch.observer/filing/0001628280-25-055114.txt

## Key facts
- Material Agreements
  DAKTRONICS INC /SD/ terminated Prior Credit Agreement with JPMorgan Chase Bank, N.A. valued at Terminated prior $75 million senior credit facility dated May 11, 2023 (effective 2025-11-26).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: Terminated prior $75 million senior credit facility dated May 11, 2023
  - Effective: 2025-11-26
  source text: In connection with the execution of the New Credit Agreement and the New Security Agreement, the Prior Credit Agreement, the Prior Security Agreement, and other documents related to the Prior Credit Facility were terminated, all outstanding payment obligations under the Prior Credit Agreement were repaid in full, and all associated liens, including the mortgage recorded against the Company's Brookings, South Dakota real property, and other obligations of the Company under the Prior Credit Facility were released, except for the following obligations, each of which will survive the termination of the Prior Credit Agreement and related loan d
  evidence_url: https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/0001628280-25-055114-index.htm
- Material Agreements
  DAKTRONICS INC /SD/ entered into New Credit Agreement with JPMorgan Chase Bank, N.A. valued at $60 million revolving credit facility and $11.5 million term loan, maximum quarterly Total Leverage (effective 2025-11-26).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: $60 million revolving credit facility and $11.5 million term loan, maximum quarterly Total Leverage
  - Effective: 2025-11-26
  source text: On November 26, 2025 (the “ Closing Date ”), Daktronics, Inc. (the “ Company ”) replaced its prior $75 million senior credit facility (the “ Prior Credit Facility ”) pursuant to a Credit Agreement dated as of May 11, 2023 (as amended, restated, modified, or supplemented from time to time, the “ Prior Credit Agreement ”), between and among the Company, JPMorgan Chase Bank, N.A., as administrative agent (the “ Administrative Agent ”), the Lenders (as defined in the Prior Credit Agreement), and the other Loan Parties (as defined in the Prior Credit Agreement) with a new revolving credit facility (the “ New Credit Facility ”) pursuant to a Credit Agreement (the “ New Credit Agreement ”), dated as of the Closing Date, between and among the Company, the Administrative Agent, the Lenders (as defined in the New Credit Agreement), and the other Loan Parties (as defined in the New Credit Agreement).
  evidence_url: https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/0001628280-25-055114-index.htm

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