CPI Aerostructures extends credit line to Aug 2025 with step-down max to $15.48M

CPI AEROSTRUCTURES INC

Revolving credit maturity extended to August 31, 2025, from prior date.
Maximum principal amount reduced stepwise: $19.8M (Jan-Mar 2024) to $15.48M (post-June 2025).
Outstanding Revolving Credit Loans as of Feb 20, 2024: $19,560,000.
Amendment updates permitted sales of receivables to RTX, GKN, Triumph, Embraer counterparties.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CPI AEROSTRUCTURES INC amended Thirteenth Amendment with BankUnited, N.A. as Sole Arranger, Agent and a Lender (effective 2024-02-20).

Action: amendment
Agreement: credit facility
Counterparty: BankUnited, N.A. as Sole Arranger, Agent and a Lender
Effective: 2024-02-20

Exact text from the filing

On February 20, 2024, CPI Aerostructures, Inc. (the "Company") entered into a Thirteenth Amendment (the "Thirteenth Amendment") to that certain Amended and Restated Credit Agreement with the lenders named therein and BankUnited, N.A. as Sole Arranger, Agent and a Lender, dated as of March 24, 2016 (as amended from time to time, the "Credit Agreement").

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CPI AEROSTRUCTURES INC filing history →

Source: SEC EDGAR

accession 0001839882-24-004986

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