secwatch.observer — SEC 8-K summary
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Issuer:     LIGHTPATH TECHNOLOGIES INC (LPTH)
CIK:        0000889971
Form:       8-K
Filed at:   2021-12-23T23:59:59+00:00
Accession:  0001654954-21-013516
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LightPath enters second loan amendment extending maturity to April 2023, increases payments, adds exit fee
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- Maturity of Term Loan and Revolving Credit extended from Feb 2022 to April 15, 2023; exit fee of 4% on outstanding principal due then.
- Monthly payments on Term Loan increase to $100,000 starting November 1, 2022; outstanding principal was ~$4.215M as of amendment date.
- Interest rate set to prime minus 50 bps from Dec 20, 2021; rising to default rate from Aug 1, 2022.
- Financial covenant compliance waived for quarters ending Dec 2021, Mar 2022, and June 2022; $50,000 restructuring fee paid to BankUnited.
- Guidance Line Facility terminated; credit cards to be cancelled by Jan 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889971/000165495421013516/0001654954-21-013516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889971/000165495421013516/lpth_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-21-013516

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