Company: PDEX
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0001079973-25-000164
Chunk: 13

Company: PRO DEX INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Item 2
Chunk 13
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. Amounts owed to the fiscal 2024 three most significant suppliers at December 31, 2024, totaled $1.8 million, $657,000 and $485,000,
respectively, and at June 30, 2024, totaled $1.4 million, $372,000 and $416,000, respectively.

    13 
    PRO-DEX, INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

NOTE 10. NOTES PAYABLE
AND FINANCING TRANSACTIONS

Minnesota Bank & Trust

As
previously disclosed, we have several outstanding term loans as well as a revolving loan (the “Amended Revolving Loan”) under
our Amended and Restated Credit Agreement with MBT (as subsequently amended, the “Amended Credit Agreement”). On July
31, 2024 (the “Fourth Amendment Date”), we entered into Amendment No. 4 to the Amended Credit Agreement (the “Fourth
Amendment”) which, (i) provided for a new term loan, Term Loan C, in the amount of $5.0 million, (ii) used the proceeds from Term
Loan C to repay the entire $3.0 million balance that was outstanding on the Fourth Amendment Date under the Amended Revolving Loan, and
(iii) terminated our Supplemental Loan, under which no amounts had been drawn. Loan origination fees in the amount of $10,000 were
paid to MBT in conjunction with Term Loan C. On December 23, 2024, we entered into Amendment No. 5 to the Amended Credit Agreement (the
“Fifth Amendment”), which extended the maturity date of the Amended and Revolving Loan from December 29, 2025, to December
29, 2026.

The balance on
our outstanding loans (in thousands) is as follows (exclusive of unamortized loan fees): 

    Schedule of unamortized loan  

    December 31,
                                                                                2024  
    June 30,
                                                                                2024 
  
    Notes Payable: 

    Term Loan A	 
    $3,320  
    $3,834 
  
    Term Loan B	 
     494  
     571 
  
    Term Loan C	 
     4,667  
     — 
  
    Property Loan