Section 1.01 Entering into a Material Definitive Agreement.
Advances under the new credit facility will bear interest at the 30-day guaranteed overnight funding rate (“SOFR”) plus 200 basis points for loans under the revolving facility, and at 30-day SOFR plus 225 basis points for M&E and Capex loans (Effective
The installation ends on
Advances under the new credit facility are secured by a pledge of substantially all of the Borrower’s assets.
Item 2.03 Creation of a Direct Financial Obligation or Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set out in point 1.01 above is incorporated by reference in this point 2.03.
This current report on Form 8-K contains “forward-looking statements,” including statements regarding the proposed offering. Forward-looking statements can generally be identified by the use of words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “plan”, “have the intention to”, “could”, “plan”, “project”, “potential”, “seek”, “should”, “think”, “will”, “would” and similar expressions, or they may use dates Forward-looking statements contained herein include, but are not limited to, statements regarding the Company’s expectations regarding the completion, timing and size of the proposed private offering, as well as the use These forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time, and readers are therefore cautioned that actual results could differ materially from those expressed in the forward-looking statements. The factors likely to could cause actual results to differ include, among other things: risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions associated with the proposed offering; and other risks and uncertainties discussed in the Company’s filings with the
Item 9.01 Financial statements and supporting documents.
Exhibit Number Description 10.92 Credit and Security Agreement, dated as of
January 20, 2022, between Fifth Third Bank, National Association, and Precision Industries, Inc.10.93 Trademark Security Agreement, dated as of January 20, 2022, by and between Precision Industries, Inc., and Fifth Third Bank, National Association 10.94 Guaranty, dated as of January 20, 2022, by Precision Affiliated Holdings LLCfor the benefit of Fifth Third Bank, National Association 10.95 Guarantor Security Agreement, dated as of January 20, 2022, by and between Precision Affiliated Holdings LLC, and Fifth Third Bank, National Association 10.96 Stock Pledge Agreement, made as of January 20, 2022, by Precision Affiliated Holdings LLC, to Fifth Third Bank, National Association 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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