secwatch.observer — SEC 8-K summary
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Issuer:     CPI AEROSTRUCTURES INC (CVU)
CIK:        0000889348
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0001839882-23-007388
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPI Aerostructures amends credit agreement; maturity extended to Nov 30, 2024
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- Amended credit agreement with BankUnited and Dime Community Bank extends revolving and term loan maturity to November 30, 2024.
- Revolving credit maximum reduced stepwise from $21M to $17.64M effective October 1, 2024.
- Term loan outstanding of $733,333.32 to be repaid by June 30, 2023; amendment fee of $54,333.33 due May 31, 2023.
- Capitalized fee of $250,000 from Eighth Amendment to be paid in two installments ($116,666.68 on June 1, 2023 and $133,333.32 on July 1, 2023).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/889348/000183988223007388/0001839882-23-007388-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/889348/000183988223007388/cvu-8k_032323.htm
  HTML page:      https://secwatch.observer/filing/0001839882-23-007388

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