Clearfield, Inc. 8K

Clearfield, Inc. amended its revolving credit agreement with Old National Bank to issue a $40 million restated revolver note, extend and refine interest, maturity, default, and covenant terms, and confirm continued collateral and security arrangements.

On April 25, 2026, Clearfield, Inc. entered into Amendment No. 3 to its April 27, 2022 Loan Agreement with Old National Bank (successor by merger to Bremer Bank), under which the company issued a Second Amended and Restated Revolving Credit Promissory Note for $40,000,000 and revised key credit terms. The amendment resets the interest mechanics to a floating rate based on SOFR plus a 1.85% applicable margin (subject to a floor) with monthly interest payments beginning May 1, 2026, adds detailed fallback provisions if SOFR becomes unavailable or non-representative, and clarifies the lender’s right to substitute an alternative benchmark rate. The maturity date of the revolving facility is set at July 24, 2026, late fee provisions and default interest (an additional 3.00% margin upon events of default) are updated, and the computation of interest is confirmed on a 365/360 basis. New provisions authorize the bank, at its option, to advance funds to cure borrower covenant breaches (with such advances added to loan principal), allow the lender to recover additional costs stemming from legal or regulatory changes, and expand events of default to include defective collateralization, creditor or forfeiture proceedings, material adverse changes, and cross-defaults. The amendment also revises notice information for the bank, adds a jury trial waiver, confirms that the existing 2022 Security Agreement continues to secure all obligations under the amended facility, and restates that no default or event of default exists after giving effect to the amendment.

Filing Facts

CIK

796505

Ticker

-

Form

8K

Source Type

sec

Accession

0001171843-26-002887

Alert Tier

7