Business Context and Reporting Period
Company: AVIAT NETWORKS, INC.
Filing Type: Form 8-K (Current Report)
Date of Report: September 21, 2017
Event: Entry into a Material Definitive Agreement (Amendment No. 8 to Second Amended and Restated Loan Agreement).
Key Financial Metrics
This filing does not provide specific financial performance metrics such as revenue, profit, cash flow, margins, or total debt levels. The filing focuses exclusively on the terms of a credit facility amendment.
Material Changes
The Company entered into Amendment No. 8 to its Second Amended and Restated Loan and Security Agreement with Silicon Valley Bank. Key changes to the borrowing base calculation include:
- Inclusion of up to 30% of the Singapore Borrower's accounts receivable.
- Inclusion of accounts receivable from certain high credit quality customers aged 90 to 120 days.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook. No specific risks or contingencies are detailed beyond the standard qualification that the description of the Amendment is subject to the full text of the agreement attached as Exhibit 10.1.
Investor Verification Checklist
- Review the full text of Amendment No. 8 (Exhibit 10.1) to understand specific covenants and conditions.
- Verify the impact of the expanded borrowing base on the Company's available liquidity.
- Confirm the credit quality criteria for customers whose receivables aged 90-120 days are now eligible for inclusion.
- Check subsequent filings for any utilization of the amended credit facility.