Company: SIF
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0000090168-25-000012
Chunk: 6

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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In consideration of the execution and delivery by Siena of the Loan Agreement, the Company agreed pursuant to the fee letter to pay a closing fee in the amount of $ 230 115 115 126 4 0.5

Borrowings under the Credit Facility are secured by (a) a continuing first priority lien on and security interest in and to substantially all of the assets of the Company and other loan parties identified therein; and (b) a continuing first priority pledge of the pledged equity. The obligations of the Borrowers are guaranteed by each guarantor on the terms set forth in the Loan Agreement.

The Loan Agreement provides that the Company must maintain compliance with a minimum fixed charge coverage ratio, determined in accordance with the Loan Agreement. The Loan Agreement also contains 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 December 31, 2024.

As of December 31, 2024, the Company was in compliance with all covenants under the Loan Agreement. As of December 31, 2024, total availability under the Revolver was $ 3,859 no

As of December 31, 2024 and September 30, 2024, the Company had effective interest rates of 9.6 8.1

Debt issuance costs

As of December 31, 2024 and September 30, 2024, the Company had debt issuance costs related to its outstanding revolving credit agreements of $ 556 461

deferred charge in other current assets, net of amortization of $ 31 nil 83 6

First Energy

In April 2019, the Company entered into an economic development loan in the amount of $ 864 five years zero 2.0 1.0 140 133

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