Company: SIF
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0000090168-25-000032
Chunk: 9

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 affirmative, negative and financial covenants customary for financings of this type, including, among other things, limitations on certain other indebtedness, loans and investment, liens, mergers, asset sales, and transactions with affiliates, as well as customary events of default for financings of this type. Additionally, the Loan Agreement contains provisions for a lockbox arrangement and a subjective acceleration clause related to the appraised value of collateralized property, plant, and equipment; hence, the Term Loan and the Revolver were each classified as current maturities of long-term debt in the consolidated condensed balance sheet as of June 30, 2025.

As of June 30, 2025, the Company was in compliance with all covenants under the Loan Agreement. As of June 30, 2025, total availability under the Revolver was $ 4,892 no

As of June 30, 2025 and September 30, 2024, the Company had effective interest rates of 9.7 8.1

Debt issuance costs

As of June 30, 2025 and September 30, 2024, the Company had debt issuance costs related to its outstanding revolving credit agreements of $ 556 461 124 nil

issuance costs related to the Term Loan of $ 83 25

First Energy

In April 2019, the Company entered into an economic development loan in the amount of $ 864 five years zero 2.0 1.0 144 133

Beginning on October 1, 2019, FirstEnergy invoiced the Company on a quarterly basis and payments were made accordingly. However, in light of recent difficulties experienced by FirstEnergy, the Company has not received invoices (or other requests for payment) since its October 2023 payment, and all attempts at correspondence with FirstEnergy have gone unanswered. Due to the lack of communication with the lender, the Company has been unable to make the remaining three

City of Cleveland

In May 2019, the Company entered into a vacant property initiative loan agreement with the City of Cleveland in the amount of $ 180 3.6 five years 220

Due to the effects of the worldwide pandemic, the Company experienced declines in demand for its products and sales, which hindered the Company's ability to grow its workforce and maintain it at or above the required levels. The Company is currently in discussions with the City of Cleveland for forgiveness of the VPI Loan under extenu