{"schema_version":"secwatch.filing_event.v1","accession":"0001654954-23-015222","form_type":"8-K","ticker":"SMID","cik":"0000924719","company_name":"SMITH MIDLAND CORP","filed_at":"2023-12-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.428977+00:00","generated_at":"2026-06-07T17:40:28.274254+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Smith-Midland renews $5M line of credit and $1.5M equipment line with Summit Community Bank","bullets":["Renewed $5M revolving line of credit with Summit Community Bank; no advances drawn to date.","Also renewed $1.5M equipment guidance line of credit; both mature October 1, 2024.","Interest rate: WSJ prime (initial 8.5%) with floor of 4.99%; interest-only payments monthly.","Covenants include bank approval for capex >$5M, min tangible equity $10M, and approval for acquisitions.","Loans collateralized by accounts receivable, inventory, and equipment."],"urls":{"canonical":"https://secwatch.observer/filing/0001654954-23-015222","json":"https://secwatch.observer/filing/0001654954-23-015222.json","markdown":"https://secwatch.observer/filing/0001654954-23-015222.md","text":"https://secwatch.observer/filing/0001654954-23-015222.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/924719/000165495423015222/0001654954-23-015222-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/924719/000165495423015222/smid_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T17:40:28.274254+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8d4e61f67cc52e64fdd6f8a18d32c415fd9da049","claim":"SMITH MIDLAND CORP incurred credit facility of up to $1,500,000 with Summit Community Bank at Wall Street Journal prime rate plus .5% maturing October 1, 2024.","evidence_excerpt":"On November 29, 2023, the Company executed a Commitment Letter from the Bank to provide a guidance line of credit specifically to purchase business equipment up to $1,500,000.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/924719/000165495423015222/0001654954-23-015222-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $1,500,000"},{"label":"Counterparty","value":"Summit Community Bank"},{"label":"Rate","value":"Wall Street Journal prime rate plus .5%"},{"label":"Maturity","value":"October 1, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"ff02cd9be125c159aeec693280e3d49e80dbf8c4","claim":"SMITH MIDLAND CORP incurred revolving credit of up to $5,000,000 with Summit Community Bank at Wall Street Journal prime rate with an initial rate of 8.500% and a floor of 4.9 maturing October 1, 2024.","evidence_excerpt":"On November 29, 2023, Smith-Midland Corporation (the \"Company\") renewed its line of credit with Summit Community Bank (the “Bank”) for up to $5,000,000 under substantially the same terms and in the same amount.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/924719/000165495423015222/0001654954-23-015222-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"up to $5,000,000"},{"label":"Counterparty","value":"Summit Community Bank"},{"label":"Rate","value":"Wall Street Journal prime rate with an initial rate of 8.500% and a floor of 4.9"},{"label":"Maturity","value":"October 1, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}