secwatch.observer — SEC 8-K summary
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Issuer:     WIDEPOINT CORP (WYY)
CIK:        0001034760
Form:       8-K
Filed at:   2025-02-20T23:59:59+00:00
Accession:  0001654954-25-001686
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WidePoint enters $4M revolving credit facility with Old Dominion, matures Feb 28, 2025
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- New $4M revolving line of credit replaces February 2024 agreement with same terms.
- Borrowing base is lesser of $4M or 80% of eligible accounts receivable.
- Interest rate equals Prime Rate with a 7.25% floor; monthly interest payments.
- Covenants: minimum tangible net worth $2M, minimum annual EBITDA $1M, current ratio >=1.0.
- Maturity date is February 28, 2025—only 10 days after signing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1034760/000165495425001686/0001654954-25-001686-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1034760/000165495425001686/wyy_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-001686

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