Company: ACCS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000843006-25-000012
Chunk: 29

Company: ACCESS Newswire Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 29
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 The Company currently has no plans to utilize the Revolving LOC but may do so in the future. If the Company does utilize any funds under the Revolving LOC, the funds will bear interest at a per annum rate equal to the then current SOFR plus 2.05%. Effective June 25, 2024, Pinnacle’s commitment to fund under the Revolving LOC was amended to terminate on June 30, 2025, unless terminated earlier pursuant to the terms of the Credit Agreement. The Company terminated its existing $3,000,000 unsecured line of credit with Fifth Third Bank immediately prior to the Closing Date. As of December 31, 2024, there was no outstanding balance under the Revolving LOC and the interest rate was 6.58%. The Credit Agreement originally contained financial covenants, which commenced with fiscal quarter ending September 30, 2023, and were subsequently amended on June 25, 2024, as follows:  OriginalAs AmendedFiscal QuarterFixed Charge Coverage RatioFixed Charge Coverage RatioEach fiscal quarter ending on or after June 30, 2023 through June 30, 20241.2:1.01.2:1.0Fiscal quarter ending on or after September 30, 2024 through March 31, 20251.2:1.01.15:1.0Each fiscal quarter ending on or after June 30, 20251.2:1.01.2:1.0    Leverage RatioLeverage RatioEach fiscal quarter ending on or after June 30, 2023 through September 30, 20232.75:1.02.75:1.0Fiscal quarter ending December 31, 20232.5:1.02.5:1.0Fiscal quarter ending March 31, 20242.5:1.02.75:1.0Each fiscal quarter ending on or after June 30, 2024 through September 30, 20242.5:1.03.5:1.0Fiscal quarter ending December 31, 20242.5:1.03.0:1.0Fiscal quarter ending March 31, 20252.5:1.02.85:1.0Each fiscal quarter ending on or after June 30, 20252.5:1.02.75:1.0

 F-20Table