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

Issuer:     Avid Bioservices, Inc. (—)
CIK:        0000704562
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001683168-23-007595
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avid Bioservices extends credit facility maturity to Oct 2024 and amends interest rates
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/0001683168-23-007595-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/704562/000168316823007595/avid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-007595

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