Business Context and Reporting Period
Company: Optical Cable Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: April 30, 2019
Event: Entry into a Material Definitive Agreement (Sixth Loan Modification Agreement) with Pinnacle Bank.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, or specific debt balance data. The report focuses exclusively on the modification of existing credit terms.
Material Changes
- Loan Extension: The expiration date of the Company's Revolving Loan has been extended to June 30, 2020.
- Extension Terms: The Lender may extend the expiration date in one-year increments by providing written notice no later than June 30 of the prior calendar year.
- Collateral: The loan remains secured by land and buildings at headquarters (Roanoke, VA) and manufacturing/office facilities (near Asheville, NC), as well as personal property and assets.
- Other Terms: All other terms of the Credit Agreement remain unaltered.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or discussion of new risks. The primary contingency noted is the requirement for written notice from the Lender to exercise future one-year extensions.
Investor Verification Checklist
- Verify the total outstanding balance of the Revolving Loan under the modified Credit Agreement.
- Confirm the interest rate and fee structure applicable to the extended period.
- Review the full text of Exhibit 4.1 (Sixth Loan Modification Agreement) for any covenants not explicitly summarized in the 8-K.
- Check subsequent filings to confirm if the one-year extension option was exercised prior to June 30, 2020.