Business Context and Reporting Period
Company: Flux Power Holdings, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 22, 2025
Reporting Period: Event date January 22, 2025; Signed January 28, 2025.
Context: The Company entered into Amendment No. 4 to its Loan and Security Agreement with Gibraltar Business Capital, LLC ("GBC"), modifying the EBITDA Minimum financial covenant.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or total debt levels. The only specific financial metric disclosed is the cost associated with the amendment:
- Amendment Fee: $50,000 total (non-refundable).
- Payment Schedule: $25,000 due March 1, 2025; $25,000 due April 1, 2025.
Material Changes
The primary material change is the amendment of the EBITDA Minimum financial covenant under the existing Loan and Security Agreement dated July 28, 2023. The filing text does not specify the new covenant thresholds or the specific nature of the modification beyond the title of the covenant.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or management commentary regarding future operations or financial performance.
Risks and Contingencies: The filing notes the creation of a direct financial obligation via the $50,000 amendment fee. No other specific risks or contingencies are detailed in the text provided.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment No. 4) to determine the specific new EBITDA Minimum covenant thresholds.
- Verify the Company's current EBITDA position relative to the amended covenant to assess compliance risk.
- Confirm the impact of the $50,000 fee on the Company's immediate cash liquidity.
- Check for any subsequent filings regarding the status of the loan agreement or covenant compliance.