Company: CRWS
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001437749-25-003486
Chunk: 13

Company: CROWN CRAFTS INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Part II, Item 4
Chunk 13
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ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM5. OTHER INFORMATION

OnFebruary 10, 2025, the Company and its subsidiaries entered into a letter agreement with CIT to amend the Company's financing agreement with CIT to: (i) waive, with respect to the fiscal year endingMarch 30, 2025, and through the fiscal year endingMarch 29, 2026, the Company's obligation to comply with the fixed charge coverage ratio; and (ii) increase the Excess Availability (as defined in the financing agreement) required to be maintained by the Company with respect to its revolving line of credit under the financing agreement from$7,000,000to$7,500,000, until further notice to the Company by CIT. After such notice, the Excess Availability shall be50%of the outstanding balance of the Company's term loan under the financing agreement.

During the three-month period endedDecember 29, 2024, noneof the Company’s directors or officers informed the Company of the adoption, modification or termination of a “ Rule10- b5-1trading arrangement” or “non-Rule10- b5-1trading arrangement,” as those terms are defined in Item408(a) of Regulation S-K.

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