Business Context and Reporting Period
TSS, Inc. (Ticker: TSSI) filed a Current Report on Form 8-K on September 17, 2025. The report details a material definitive agreement entered into by VTC, L.L.C., a wholly owned subsidiary of the Company, involving an amendment to its existing credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity ratios. The primary financial metric disclosed is a new debt obligation:
- Incremental Term Loan: $5,000,000
- Existing Term Loan Facility: $20,000,000
- Total Term Loan Facility Post-Amendment: $25,000,000
Material Changes
The Company amended its Credit Agreement with Susser Bank, originally dated December 31, 2024. The amendment adds a $5,000,000 Incremental Note to the existing $20,000,000 facility. The Incremental Note carries the same terms as the original Note, including interest rate, maturity date, and payment terms.
Management Commentary and Use of Proceeds
Management stated that the proceeds from the Incremental Note will be used to replenish cash reserves previously utilized to finance capital expenditures. The transaction is intended to better align the long-term nature of these capital expenditures with long-term debt financing.
Investor Verification Checklist
- Verify the specific interest rate and maturity date of the original Credit Agreement (filed as Exhibit 10.1 to the January 7, 2025, 8-K) to confirm the terms of the new Incremental Note.
- Review the full text of the First Amendment (Exhibit 10.1) and the Term Loan Note (Exhibit 10.2) included in this filing for any covenants or conditions not summarized in the text.
- Assess the impact of the additional $5,000,000 debt on the Company's total leverage ratios and debt service obligations.