---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-003324"
form_type: "8-K"
ticker: "ACCS"
cik: "0000843006"
company_name: "ACCESS Newswire Inc."
filed_at: "2023-03-22T23:59:59+00:00"
generated_at: "2026-06-17T21:53:08.380313+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Issuer Direct closes $20M term loan with Pinnacle Bank; repays iNewswire note early

## Summary
- $20M term loan at 6.217% fixed rate (SOFR + 2.35% swapped) maturing December 20, 2028.
- $5M revolving line of credit available until Sept 2024; current unused.
- Proceeds plus cash on hand used to repay $22.88M short-term note from Nov 2022 iNewswire acquisition.
- Seller forgave $440K of interest as part of early repayment.
- Financial covenants: fixed charge coverage ratio ≥1.20x; leverage ratio starting at ≤2.75x, stepping down to ≤2.50x.

## SEC filing metadata
- accession: 0001654954-23-003324
- form_type: 8-K
- ticker: ACCS
- cik: 0000843006
- company_name: ACCESS Newswire Inc.
- filed_at: 2023-03-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/0001654954-23-003324-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/isdr_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-003324
- JSON: https://secwatch.observer/filing/0001654954-23-003324.json
- Plain text: https://secwatch.observer/filing/0001654954-23-003324.txt

## Key facts
- Debt Financings
  ACCESS Newswire Inc. incurred revolving credit of up to $5 million with Pinnacle Bank at SOFR plus 2.05% maturing September 1, 2024.
  - Instrument: revolving credit
  - Principal: up to $5 million
  - Counterparty: Pinnacle Bank
  - Rate: SOFR plus 2.05%
  - Maturity: September 1, 2024
  - Event: incurrence
  source text: following: (i) term loan facility in an aggregate principal amount of $20 million (the “Term Loan”) and (ii) revolving letter of credit in an up to aggregate principal amount of $5 million (the “Revolving LOC”), subject to an 85% limit based on the current eligible accounts receivable (as defined in the Credit Agreement). Pursuant to the terms of the Credit
  evidence_url: https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/0001654954-23-003324-index.htm
- Debt Financings
  ACCESS Newswire Inc. incurred term loan of $20 million with Pinnacle Bank at SOFR plus 2.35%, subject to a minimum SOFR of 2.00% maturing December 20, 2028.
  - Instrument: term loan
  - Principal: $20 million
  - Counterparty: Pinnacle Bank
  - Rate: SOFR plus 2.35%, subject to a minimum SOFR of 2.00%
  - Maturity: December 20, 2028
  - Event: incurrence
  source text: On March 20, 2023 (the “Closing Date”), Issuer Direct Corporation, a Delaware corporation (the “Company”), and each of its subsidiaries (the “Guarantors”), entered into a $25 million credit agreement (the “Credit Agreement”) with Pinnacle Bank (“Pinnacle”). The Credit Agreement provides for the following: (i) term loan facility in an aggregate principal amount of $20 million (the “Term Loan”) and (ii) revolving letter of credit in an up to aggregate principal amount of $5 million (the “Revolving LOC”), subject to an 85% limit based on the current eligible accounts receivable (as defined in the Credit Agreement).
  evidence_url: https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/0001654954-23-003324-index.htm
- Material Agreements
  ACCESS Newswire Inc. entered into Credit Agreement with Pinnacle Bank valued at $25 million (effective 2023-03-20).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Pinnacle Bank
  - Value: $25 million
  - Effective: 2023-03-20
  source text: On March 20, 2023 (the “Closing Date”), Issuer Direct Corporation, a Delaware corporation (the “Company”), and each of its subsidiaries (the “Guarantors”), entered into a $25 million credit agreement (the “Credit Agreement”) with Pinnacle Bank (“Pinnacle”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/0001654954-23-003324-index.htm

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