secwatch.observer — SEC 8-K summary
======================================

Issuer:     WIDEPOINT CORP (WYY)
CIK:        0001034760
Form:       8-K
Filed at:   2024-03-04T23:59:59+00:00
Accession:  0001654954-24-002525
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WidePoint enters $4M revolving credit facility with Old Dominion National Bank
------------------------------------------------------------------------------

- $4M revolver; borrowing base = lesser of $4M or 80% of eligible accounts receivable.
- Interest at Prime Rate (WSJ) with 7.25% floor; maturity February 28, 2025.
- Covenants (annual from Dec 31, 2024): min tangible net worth $2M, min EBITDA $1M, current ratio >=1.0.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1034760/000165495424002525/0001654954-24-002525-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1034760/000165495424002525/wyy_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-002525

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