Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 35

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 35
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 Annual Report on Form
10-K for the fiscal year ended June 30, 2024, except as provided in any amendments thereto and those set forth below.

Recently proposed tariffs could have
a negative effect on our business, results of operations, financial condition, and liquidity.

Starting in the first quarter
of 2025, the United States government announced additional tariffs on goods imported into the U.S. from numerous countries and multiple
nations countered with reciprocal tariffs and other actions in response. The U.S. government stated that it is willing to negotiate with
other countries regarding the tariffs. While we manufacture our products locally, we source raw materials and purchased components through
an extensive supply chain, and the tariffs may negatively impact demand and result in an increase in some product costs. We are currently
analyzing the impacts of tariffs and actions that can be taken to moderate and/or minimize their effects.

ITEM 2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 5.OTHER INFORMATION

Insider
Trading Arrangements and Policies

During the quarter ended March
31, 2025, one of our directors, Nicholas Swenson, terminated a “Rule 10b5-1 trading arrangement” as such term is defined in
Item 408(a) of Regulations S-K. No additional directors or officers informed us of the adoption, modification or termination of a “Rule
10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Item 408 of Regulation
S-K.

ITEM 6.EXHIBITS

ExhibitDescription

10.1Amendment No. 6 to Amended and restated Credit Agreement dated April 8, 2025, by and between
Pro-Dex, Inc. and UMB Bank, N.A. D/B/A Minnesota Bank and Trust, a division of UMB Bank N.A., successor-in-interest to Minnesota Bank
and Trust, a division of HTLF Bank (incorporated herein by reference to Exhibit 10.1 to the Company’s Form 8-K filed April 11, 2025).

10.2Second Amended and restated revolving Credit Note dated April 8, 2025, made by Pro-Dex, Inc.
in favor of UMB Bank, N.A. D/B/A Minnesota Bank and Trust, a division of UMB Bank N.A., successor-in-interest to Minnesota Bank