---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-002200"
form_type: "8-K"
ticker: "LTRX"
cik: "0001114925"
company_name: "LANTRONIX INC"
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T04:55:28.754688+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Lantronix amends loan agreement with SVB/First-Citizens; obtains waiver of depository covenant default

## Summary
- SVB waives prior default for failure to comply with depository covenant under the Loan Agreement.
- Covenant amended: Borrower must maintain only 50% of aggregate U.S. operating & excess cash accounts at SVB.
- Borrower granted 45 days to deliver account control agreements for non-SVB accounts.
- Borrower releases SVB and predecessors from all claims, expressly waiving California Civil Code Section 1542.

## SEC filing metadata
- accession: 0001683168-23-002200
- form_type: 8-K
- ticker: LTRX
- cik: 0001114925
- company_name: LANTRONIX INC
- filed_at: 2023-04-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1114925/000168316823002200/0001683168-23-002200-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1114925/000168316823002200/lantronix_i8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-002200
- JSON: https://secwatch.observer/filing/0001683168-23-002200.json
- Plain text: https://secwatch.observer/filing/0001683168-23-002200.txt

## Key facts
- Material Agreements
  LANTRONIX INC amended Letter Agreement with Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)) (effective 2023-04-03).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank))
  - Effective: 2023-04-03
  source text: On April 3, 2023, Lantronix, Inc. ( “Lantronix”), Lantronix Holding Company, Lantronix Technologies Canada (Taiwan) Ltd., Lantronix Canada, ULC, Transition Networks, Inc., and Uplogix, Inc. (collectively, the “Borrowers”) entered into a Letter Agreement (the “Letter Agreement”) with Silicon Valley Bank, a Division of First-Citizens Bank & Trust Company (successor by purchase to the Federal Deposit Insurance Corporation as receiver for Silicon Valley Bridge Bank, N.A. (as successor to Silicon Valley Bank)) (“SVB”). Among other matters, the Letter Agreement amends that certain Third Amended and Restated Loan and Security Agreement, dated as of August 2, 2021, as amended by the First Amendment to Third Amended and Restated Loan and Security Agreement, dated as of October 21, 2021, the Second Amendment to Third Amended and Restated Loan and Security Agreement, dated as of February 15, 2022, and the Third Amendment to Third Amended and Restated Loan and Security Agreement, dated as of Septe
  evidence_url: https://www.sec.gov/Archives/edgar/data/1114925/000168316823002200/0001683168-23-002200-index.htm

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