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

Issuer:     LANTRONIX INC (LTRX)
CIK:        0001114925
Form:       8-K
Filed at:   2023-04-06T23:59:59+00:00
Accession:  0001683168-23-002200
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1114925/000168316823002200/0001683168-23-002200-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1114925/000168316823002200/lantronix_i8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-002200

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