secwatch.observer — SEC 8-K summary
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Issuer:     DAKTRONICS INC /SD/ (DAKT)
CIK:        0000915779
Form:       8-K
Filed at:   2025-12-03T23:59:59+00:00
Accession:  0001628280-25-055114
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/0001628280-25-055114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915779/000162828025055114/dakt-20251126.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-055114

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