Business Context and Reporting Period
Radiant Logistics, Inc. filed this Form 8-K on March 25, 2010, to report a material amendment to its existing secured credit facility. The company is incorporated in Delaware and operates from Bellevue, WA.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, or operating margins. The primary financial metric disclosed relates to the company's debt capacity:
- Credit Facility Limit: Increased from $15 million to $20 million.
- Collateral: Accounts receivable and other assets of the Company and its subsidiaries.
- Advance Rate: Up to 80% of eligible accounts receivable.
- Lender: Bank of America, N.A.
Material Changes
The material change reported is the execution of a fifth amendment to the secured credit facility effective March 25, 2010. This amendment increased the total availability of the facility by $5 million, including availability for letters of credit.
Outlook and Management Commentary
Management indicated that advances under the amended facility are intended to fund future acquisitions, capital expenditures, or other corporate purposes. The filing references the complete text of the Fifth Amendment to Loan Documents filed as Exhibit 10.1 for full terms and conditions.
Investor Verification Checklist
- Review Exhibit 10.1 for specific interest rates, fees, and covenants associated with the amended facility.
- Verify the current utilization rate of the facility to determine actual available liquidity.
- Confirm the definition of "eligible accounts receivable" to understand the borrowing base constraints.
- Check for any subsequent filings regarding the execution of acquisitions or capital expenditures funded by this facility.