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

Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001839882-22-026322
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures extends credit facility maturity to Nov 2023, reduces interest rate
--------------------------------------------------------------------------------

- Maturity of revolving line and term loan extended to November 30, 2023.
- Term loan principal payments: $200k/month from Jan 2023 plus $250k on Dec 2022 and Mar 2023.
- Interest rate reduced to Prime Rate + 3.50% effective November 1, 2022.
- Outstanding revolver $21M, term loan $1.78M; $250k amendment fee accruing interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000183988222026322/0001839882-22-026322-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000183988222026322/cvu-8k_111022.htm
  HTML page:      https://secwatch.observer/filing/0001839882-22-026322

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