{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-23-007595","form_type":"8-K","ticker":null,"cik":"0000704562","company_name":"Avid Bioservices, Inc.","filed_at":"2023-11-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.772260+00:00","generated_at":"2026-06-09T01:18:06.933343+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Avid Bioservices extends credit facility maturity to Oct 2024 and amends interest rates","bullets":["Maturity date of revolving credit facility extended to October 25, 2024.","Interest rate set at Term SOFR + 0.10% SOFR adjustment + 1.60% margin (base rate + 0.60%).","Limit for fixed/capital asset indebtedness increased to $10 million.","Commitment fee remains at 0.25% per annum; no other material changes.","No defaults or events of default after giving effect to amendment."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-23-007595","json":"https://secwatch.observer/filing/0001683168-23-007595.json","markdown":"https://secwatch.observer/filing/0001683168-23-007595.md","text":"https://secwatch.observer/filing/0001683168-23-007595.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/0001683168-23-007595-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/avid_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T01:18:06.933343+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":"5cc27f90e9d0fb3ec2ebac4025cf133890b912d6","claim":"Avid Bioservices, Inc. amended revolving credit with Bank of America, N.A. at a term SOFR rate for a specified interest period plus a SOFR adjustment (equal t maturing October 25, 2024.","evidence_excerpt":"The Amendment, among other things, (a) extends the maturity date of the revolving credit facility (“Credit Facility”) to October 25, 2024, (b) amends the applicable interest rate applied to loans under the Credit Facility as described below, and (c) increases the aggregate amount of indebtedness the Company can incur at any one time for fixed or capital assets.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/0001683168-23-007595-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Counterparty","value":"Bank of America, N.A."},{"label":"Rate","value":"a term SOFR rate for a specified interest period plus a SOFR adjustment (equal t"},{"label":"Maturity","value":"October 25, 2024"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"f4b3db0191bee49bd4a9c84e0133af463a19e1a9","claim":"Avid Bioservices, Inc. amended Amendment No. 1 to the Credit Agreement with Bank of America, N.A., as administrative agent (effective 2023-10-27).","evidence_excerpt":"On October 27, 2023, Avid Bioservices, Inc. (the “Borrower” and “Company”), entered into Amendment No. 1 to the Credit Agreement (the “Amendment”) among the Borrower, the Lenders (as defined in the Credit Agreement), and Bank of America, N.A., as administrative agent, which amends the Credit Agreement dated as of March 14, 2023 (the “Credit Agreement”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/0001683168-23-007595-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A., as administrative agent"},{"label":"Effective","value":"2023-10-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}