secwatch.observer — SEC 8-K summary
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Issuer:     ACCESS Newswire Inc. (ACCS)
CIK:        0000843006
Form:       8-K
Filed at:   2023-03-22T23:59:59+00:00
Accession:  0001654954-23-003324
Event type: debt
Sentiment:  positive
Materiality: 0.65
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/0001654954-23-003324-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/843006/000165495423003324/isdr_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-003324

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer