# EDGAR Filing Document

**Accession Number:** 0000874710
**File Stem:** 0001104659-23-008474
**Filing Date:** 2023-1
**Character Count:** 51305
**Document Hash:** 481da4e7c4c7948068b30bc75e7c9abd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-008474.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001104659-23-008474

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230130

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALLIED HEALTHCARE PRODUCTS INC
- **CENTRAL INDEX KEY:** 0000874710
- **STANDARD INDUSTRIAL CLASSIFICATION:** ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
- **IRS NUMBER:** 231370721
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-19266
- **FILM NUMBER:** 23572006

**BUSINESS ADDRESS:**
- **STREET 1:** 1720 SUBLETTE AVE
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63110
- **BUSINESS PHONE:** 3147712400

**MAIL ADDRESS:**
- **STREET 1:** 1720 SUBLETTE AVENUE
- **CITY:** ST LOUIS
- **STATE:** MO
- **ZIP:** 63110

?xml version="1.0" encoding="utf-8"?

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** 

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported)

January 30, 2023

**ALLIED HEALTHCARE PRODUCTS, INC.**

**(Exact name of Company as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-19266** | **25-1370721** |
| (State or Other Jurisdiction <br> of Incorporation) | (Commission <br> File Number) | (IRS Employer <br> Identification No.) |

---

---

| | |
|:---|:---|
| **1720 Sublette Avenue, St. Louis, Missouri**<br> (Address of principal executive offices) | **63110**<br> (Zip Code) |

---

---

| |
|:---|
| Company's telephone number, including area code |
| **(314) 771-2400** |
| Not applicable |
| **(Former name or former address, if changed since last report)** |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the Company is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging Growth Company ◻

If an emerging growth company, indicate by check mark if the Company has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Title of Each Class | &nbsp;&nbsp;Trading Symbol | &nbsp;&nbsp;Name of Each Exchange on Which<br> Registered |
| &nbsp;&nbsp;Common Stock, $.01 | &nbsp;&nbsp;AHPI | &nbsp;&nbsp;The NASDAQ Stock Market, LLC |

---

**Item 1.01 Entry into a Material Definitive Agreement**

On January 30, 2023, Allied Healthcare Products, Inc. (the "Company") entered into an amendment (the "Amendment") to the Company's Loan and Security Agreement with Summit Financial Resources, LLC ("Summit") dated effective February 27, 2017 (as previously amended, the "Credit Agreement"). The Amendment amends the Credit Agreement as follows:

- The maturity date has been amended to be February 20, 2023.

The maximum availability has been amended to $1,500,000. The borrowing base will be solely based on accounts receivable. The Company was required to pay down its inventory advance line to zero balance upon execution of the Amendment and will not be able to borrow against inventory for the remainder of the loan term.

The non-default interest rate will be 6.5% over the prime rate, as defined in the Credit Agreement.

The account administration fee is increasing to 0.6% of the outstanding balance of the loan.

The Company is required to engage the firm of Morris Anderson to consult regarding the Company's operations and to manage the sale of all or substantially all of the Company's assets. The Company is also required to engage an intermediary to broker the sale of the Company's assets. The Company has already engaged Morris Anderson, as previously disclosed in a Current Report on Form 8-K filed on January 26, 2023. The Company has also already engaged an investment banking firm to broker the sale of the Company's assets.

- The Company must provide weekly collateral updates and operate in accordance with an agreed upon budget, subject to certain exceptions described in the Amendment.

Not later than February 19, 2023, the Company must (1) enter into an agreement with a stalking horse bidder reasonably acceptable to Summit for all of the Company's assets, (2) enter into an agreement regarding the restructuring of the Company's business, or (3) engage an auctioneer acceptable to Summit to manage the auction of all of the Company's machinery, equipment and inventory.

Any sales of inventory or fixed assets are required to be used to pay down outstanding amounts under the Credit Agreement.

In the event the Company files bankruptcy proceedings, Summit will be entitled to a fee of $250,000 for providing debtor in possession financing, subject to court approval.

The foregoing summary of the amendment to the Credit Agreement is qualified in its entirety by reference to the Sixth Amendment to Loan and Security Agreement, a copy of which is filed herewith as Exhibit 99.1, and incorporated by reference herein.

**Item 8.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**

As previously disclosed, on January 25, 2023, Nasdaq notified the Company that, because of the Company's failure to submit a compliance plan and its inability to file the late quarterly report for the quarter ended September 30, 2022, it has determined to delist the Company's stock. The Company does not intend to appeal this decision and the delisting is expected to be effective at the opening of business on February 3, 2023, at which time trading in the Company's stock will be suspended.

In response to stockholder inquiries, the Company is providing the following additional information. Following the close of trading on February 2, 2023, the Company's stock will not trade on Nasdaq or any other stock exchange. It is possible that brokers may make a market in the Company's stock on the OTC markets or the Pink Markets, but the Company does not intend to facilitate such trading in any way. Therefore, it is possible that after the close of trading on February 2, 2023, there will not be a market for the Company's stock. Any market that does develop for the Company's stock will likely be highly illiquid and volatile.

**Item 9.01 Financial Statements and Exhibits.**

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits.

---

| | |
|:---|:---|
| Exhibit |  |
| Number | Description |
| [99.1](tm235010d1_ex99-1.htm) | [Sixth Amendment to Loan and Security Agreement, dated January 30, 2023, by and between Allied Healthcare Products, Inc. and Sumit Financial Resources, LLC.](tm235010d1_ex99-1.htm) |
| [99.2](tm235010d1_ex99-2.htm) | [Press Release, dated January 31, 2023.](tm235010d1_ex99-2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
|  | ALLIED HEALTHCARE PRODUCTS, INC. |
|  | By: |
| Date: January 31, 2023 | /s/ Daniel C. Dunn |
|  | Daniel C. Dunn |
|  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>Sixth Amendment to Loan and Security Agreement</u>**

**THIS SIXTH AMENDMENT TO LOAN AND SECURITY AGREEMENT** (the "**Sixth Amendment**") is executed on January 30, 2023 (the "**Effective Date**"), by and between the following (hereinafter sometimes collectively referred to as the "**Parties**" or individually as a "**Party**"): **ALLIED HEALTHCARE PRODUCTS, INC.,** a Delaware corporation ("**Borrower**") and **SUMMIT FINANCIAL RESOURCES, LLC,** a Delaware limited liability company and successor in interest to Summit Financial Resources, L.P., a Hawaii limited partnership (together with its successors and assigns, collectively, "**Lender**").

**<u>Recitals</u>**

**WHEREAS**, Lender previously extended financing to Debtor pursuant to that certain *Loan and Security Agreement* dated February 27, 2017, as amended by that certain *First Amendment to Loan and Security Agreement* dated April 16, 2018, that certain *Second Amendment to Loan and Security Agreement* dated April 24, 2019, that certain *Third Amendment to Loan and Security Agreement* dated December 18, 2020, that certain *Fourth Amendment to Loan and Security Agreement* dated October 7, 2021 and that certain *Fifth Amendment to Loan and Security Agreement* dated June 13, 2022 (as modified and amended from time to time, collectively, the "**Loan Agreement**").

**WHEREAS**, Lender is the current holder, owner, and beneficiary of the Loan Agreement and each other document, instrument, guaranty, and agreement referenced therein (collectively, the "**Loan Documents**").

**WHEREAS**, the Loan Documents are secured by the Collateral, and the liens and security interests created under and by reason of the Loan Documents have been duly and properly perfected and are first priority liens and security interests, such pledges of such Collateral being hereby ratified and affirmed in all respects;

**WHEREAS**, Borrower acknowledges its obligations to maintain, perform, and comply with each and every term and condition of the Loan Documents;

**WHEREAS**, Borrower has requested and Lender has agreed to amend the terms of the Loan Documents, but only in strict accordance with the terms and conditions hereinafter set forth.

**<u>AMENDMENT</u>**

**NOW, THEREFORE**, in consideration of the foregoing and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, but subject to all the terms, conditions, and provisions contained in the Loan Documents, except as herein modified or amended, Borrower hereby agrees to and with Lender and its successors and assigns as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **<u>Recitals</u>.** The foregoing recitals are confirmed by the Parties hereto as true and correct and are incorporated herein by reference. The recitals are a substantive, contractual part of this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **<u>Defined Terms</u>.** Capitalized terms not otherwise defined in this Sixth Amendment shall have the same meaning given them in the Loan Agreement or the applicable Loan Documents.

Sixth Amendment to Loan and Security Agreement Page 1 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. **<u>No Waiver; Continuing Validity; Compliance with Loan Documents</u>.** The execution, delivery, and performance of this Sixth Amendment by Lender and the acceptance by Lender of performance of Borrower hereunder (a) shall not constitute a waiver or release by Lender of any default that may now or hereafter exist under the Loan Documents, (b) shall not constitute a novation of the Loan Documents, and (c) except as expressly provided in this Sixth Amendment, shall be without prejudice to, and is not a waiver or release of, any rights of Lender at any time in the future to exercise any and all rights conferred by the Loan Documents or otherwise at law or in equity, including, but not limited to, the right to accelerate and/or demand immediate payment of the amounts due under the Loan Documents, to institute foreclosure proceedings, to institute collection proceedings, and/or to exercise any right against any other person or entity not a Party to this Sixth Amendment. Except as expressly modified or amended pursuant to this Sixth Amendment and any attachments hereto, the terms of the original Loan Documents, as previously modified, amended, and/or restated from time to time, shall remain unchanged and in full force and effect, and Borrower agrees to pay all amounts required to be paid pursuant to, and otherwise fully comply with, the terms, conditions, and requirements of the Loan Documents, as modified or amended pursuant to this Sixth Amendment, and make all required payments as provided for in this Sixth Amendment and in the Loan Documents, all as further set forth in this Sixth Amendment. Nothing in this Sixth Amendment will constitute a satisfaction of the obligations of Borrower under the Loan Documents, and it is the intention of Lender to retain as liable parties all makers and endorsers of the Loan Documents and the obligations thereunder unless a party is expressly released by Lender in writing. Any such maker or endorser will not be released by virtue of this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. **<u>Maturity Date</u>**. Borrower's obligations under this Sixth Amendment and the Loan Documents shall mature on February 20, 2023 (the "**Maturity Date**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. **<u>Acknowledgements of Borrower</u>.** Borrower hereby acknowledges the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1. Lender has duly performed all of its obligations under the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2. Borrower remains indebted to Lender under the Loan Documents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3. Borrower's obligations to Lender under the Loan Documents are secured by, valid, legally enforceable, duly recorded and perfected first-priority liens and security interests in the Collateral; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.4. Lender is entitled to its attorneys' fees, costs, and expenses as provided for in the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. **<u>Amount and Terms of the Advances.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1. **<u>The Advances</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1.1. <u>Maximum Loan Amount</u>. The Maximum Loan Amount shall be reduced to One Million Five Hundred Thousand and No/100 Dollars ($1,500,000.00) and shall be determined solely by the Account Advance Rate, regardless of the value of Inventory. From and after the Effective Date, no Inventory shall be Eligible Inventory, no Inventory Advances shall be made and the Inventory Advance Rate shall not be used in calculating the Maximum Loan Amount.

Sixth Amendment to Loan and Security Agreement Page 2 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2. **<u>Use of Advances/ Compliance with Budget.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2.1. <u>Budget/Use of Advances.</u> Debtor and Lender have agreed upon the budget attached hereto as Exhibit A (the "**Budget**"). Borrower shall operate its business in accordance with the Budget, provided, that Borrower shall be permitted (i) to the extent that an expense provided for in the Budget in one week is not paid in that week, to pay such expense in a subsequent week and (ii) to make expenditures that exceed by up to ten percent the amount provided in total Budget during any week, so long as at no time shall the aggregate of all actual disbursements for all preceding weeks of the Budget exceed by more than ten percent of the aggregate of all budgeted disbursements for such period (the "Allowed Variance"); provided, however, that (x) there shall be no Allowed Variance for professional fees and expenses, (y) by no later than the Wednesday Business Day of each week, the Borrower shall provide to the Lender a variance report reflecting, on a line-item basis, the actual cash disbursements for the preceding week and the percentage variance of such actual disbursements from those reflected in the Budget for that period, and (z) no variance from the Budget shall increase the amounts that the Borrower is authorized to borrow under this Amendment Facility.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3. **<u>Interest.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3.1. <u>Interest Rate</u>. From and after the Effective Date, so long as Borrower does not default under the terms of this Sixth Amendment or under the Loan Documents, the Interest Rate shall be the Prime Rate (as defined in the Loan Documents) plus Six Point Five Percent (6.5%), but in no event shall the Interest Rate be less than Fourteen Percent (14%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4. **<u>Fees.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.1. <u>Attorneys Fees and Expenses</u>. Debtor agrees to pay the Lender all attorneys' fees and other reasonable expenses incurred in connection with the creation, implementation and enforcement of this Sixth Amendment and the Loan Documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4.2. <u>Accounts Receivable Administration Fee</u>. From and after the Effective Date, the Accounts Receivable Administration Fee, as provided for in Section 2.7(a) of the Loan Agreement shall be increased to Zero Point Six Percent (0.6%).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. **<u>Payments</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.1. Immediately following the execution of this Sixth Amendment, Borrower shall pay to Lender an amount equal to any then-outstanding Inventory Advances (the "**Inventory Advance Paydown**"). In addition, Borrower shall pay to Lender proceeds from the sale or refinance of any Inventory, machinery, or equipment and Lender shall apply such amounts to reduce Borrower's outstanding obligations to Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1.2. Borrower shall direct its Account Debtors to continue submitting payments on Accounts directly to Lender and Lender shall apply such amounts to reduce Borrower's outstanding obligations to Lender.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. **<u>Negative Pledge.</u>** Borrower shall not enter into or permit to exist any arrangement or agreement, other than with Lender, which directly or indirectly permits Borrower to create or incur a lien on its real property located in New York, including both the land and building thereon, located at the following address: 46 New St, Stuyvesant, NY 12173.

Sixth Amendment to Loan and Security Agreement Page 3 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. **<u>Sale of Inventory, Machinery, and Equipment</u>**. In addition to Borrower's obligations under the Loan Documents and this Sixth Amendment and as an explicit condition to Lender's agreement to this Sixth Amendment, Borrower agrees to hold an auction for the sale of its Inventory, machinery, and equipment; or otherwise coordinate the sale of such property; or otherwise facilitate an alternative restructuring transaction acceptable to Lender. With respect to the sale or other transaction, Borrower shall comply with the following requirements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1. On or prior to January 25, 2023, Borrower shall engage a professional appraiser acceptable to Lender in its sole discretion to determine the value of Borrower's machinery, equipment, and Inventory in preparation for a bulk sale of the same;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2. On or prior to January 25, 2023, Borrower shall engage an investment banker acceptable to Lender in its sole discretion to facilitate the sale of Borrower's business (including business assets in the state of New York);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.3. On or prior to February 19, 2023, Borrower: 1) shall enter into an agreement with a stalking horse bidder, to be approved by Lender, which approval shall not be unreasonably withheld, for the sale of Borrower's business (including business assets in the state of New York); 2) shall enter into an agreement for an alternative restructuring transaction in regards to Borrower's business and/or assets, to be approved by Lender in its sole discretion; or 3) engage an auctioneer acceptable to Lender, in its sole discretion to facilitate the sale of Borrower's machinery, equipment, and Inventory. Borrower, its investment banker and/or its auctioneer shall provide proper notice of any sale according to applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. **<u>Covenants and Additional Amendments to Certain Loan Documents</u>.** In addition to all other covenants and agreements of Borrower contained in the Loan Documents, Borrower agrees as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1. Borrower shall engage and retain MorrisAnderson & Associates, Ltd or such other turnaround consultant which is acceptable to Lender in its sole discretion (the "**Turnaround Consultant**"). The Turnaround Consultant shall remain engaged through the Maturity Date, including any extensions thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2. Without the prior written consent of Lender, Borrower shall not create, incur, assume, or suffer to exist any additional pledge, security interest, encumbrance, lien, or charge of any kind upon the Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3. Borrower shall provide Lender with copies of any and all instruments, documents, or financial information pertaining to the Collateral as and when requested by Lender, including, but not limited to, evidence of the location and condition of Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4. Borrower shall permit Lender to conduct inspections of the Collateral as and when requested by Lender;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.5. Borrower shall continue to comply with any reporting requirements established under the Loan Documents or by common practice of the Parties, including the reporting of collateral through the ABLM Stucky portal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.6. Borrower shall provide weekly loan-to-collateral updates reflecting actual versus projected values no later than Wednesday for the prior week ended Friday.

Sixth Amendment to Loan and Security Agreement Page 4 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. **<u>Representations and Warranties</u>.** In order to induce Lender to execute, deliver, and perform this Sixth Amendment, Borrower warrants and represents to Lender that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1. This Sixth Amendment is not being made or entered into with the actual intent to hinder, delay, or defraud any entity or person, and Borrower is solvent and not bankrupt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2. This Sixth Amendment is not intended by the Parties to be a novation of the Loan Documents, and, except as expressly modified herein, all terms, conditions, rights, and obligations as set out in the Loan Documents are hereby reaffirmed and shall otherwise remain in full force and effect as originally written and agreed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3. No action or proceeding, including, without limitation, a voluntary or involuntary petition for bankruptcy under any chapter of Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal, state, or foreign bankruptcy law or other similar law, has been instituted by or threatened against Borrower; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4. The execution of this Sixth Amendment by Borrower and the performance by Borrower of its obligations hereunder will not violate or result in a breach or constitute a default under any agreement to which they are a party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. **<u>Reaffirmation and Confirmation of Loan Documents</u>.** To induce Lender to enter into this Sixth Amendment, Borrower hereby consents to, confirms, and acknowledges all terms, conditions, and representations set forth herein and agrees with Lender that all Loan Documents are in full force and effect, that, as of the Effective Date, Borrower does not have any defense to its obligations under any Loan Documents nor any right to set-off under the terms of any Loan Documents, or applicable law; and that the obligations hereunder shall include and be deemed to include, without in any way limiting the generality thereof, the Loan Documents, as amended by this Sixth Amendment and the terms hereof, and each and every obligation or performance now or hereafter due to Lender from Borrower on account of, attributable to, or in connection with the Loan Documents as so affected by this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. **<u>Waiver of Claims and Release</u>.** Borrower warrants and represents to Lender that, as of the Effective Date, Borrower's obligations under the Loan Documents are not subject to any credits, charges, claims, or rights of offset or deduction of any kind or character whatsoever. Borrower and its successors and assigns hereby fully, finally, and forever release and discharge Lender and its successors, assigns, directors, officers, employees, agents, and representatives from any and all actions, causes of action, claims, debts, demands, liabilities, obligations, and suits of whatever kind or nature, in law or in equity, that Borrower has or in the future may have, whether known or unknown, in respect of this Sixth Amendment, the Loan Documents, the Loan, or the actions or omissions of Lender in respect to the Sixth Amendment, the Loan Documents or the Loan and arising from events occurring prior to the date hereof. Moreover, Borrower waives any and all claims now or hereafter arising from or related to any delay by Lender in exercising any rights or remedies under the Loan Documents, including, without limitation, any delay in foreclosing the Collateral.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. **<u>Bankruptcy</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.1. Borrower agrees that, in the event a bankruptcy petition under any chapter of Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal, state, or foreign bankruptcy law, receivership law, or other similar law, is filed by or against Borrower and Borrower then requests continued financing from Lender, Borrower will pay to Lender a fee of Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00) in consideration for such financing, subject to approval of the appropriate bankruptcy court.

Sixth Amendment to Loan and Security Agreement Page 5 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2. As additional consideration for Lender agreeing to this Sixth Amendment and the Loan Documents Borrower agrees that in the event a bankruptcy petition under any chapter of Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal, state, or foreign bankruptcy law, receivership law, or other similar law, is filed by or against Borrower at any time after the Execution Date, Lender shall be entitled to the immediate entry of an order from the appropriate bankruptcy court granting Lender complete relief from the automatic stay imposed by 11 U.S.C. § 362 to exercise its foreclosure and other rights, including, but not limited to, obtaining a foreclosure judgment and foreclosure sale, upon the filing with the appropriate court of a motion for relief from the automatic stay with a copy of this Sixth Amendment attached thereto. Borrower specifically agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2.1. Upon filing of a motion for relief from the automatic stay, Lender shall be entitled to relief from the stay without the necessity of an evidentiary hearing and without the necessity or requirement of Lender to establish or prove the value of the Collateral, the lack of adequate protection of its interest in such Collateral, or the lack of equity in such Collateral;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2.2. The lifting of the automatic stay hereunder by the appropriate bankruptcy court shall be deemed to be "for cause" pursuant to 11 U.S.C. § 362(d)(1); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.2.3. Borrower will not directly or indirectly oppose or otherwise defend against Lender's effort to gain relief from the automatic stay.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.3. This provision is not intended to preclude Borrower from filing for protection under Title 11 of the United States Code, as now constituted or hereafter amended, or any other applicable federal, state, or foreign bankruptcy law or other similar law. The remedies prescribed in this Section are not exclusive and shall not limit Lender's rights under the Loan Documents, this Sixth Amendment, or any law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.4. All of the above terms and conditions have been freely bargained for and are all supported by reasonable and adequate consideration, and the provisions herein are material inducement for Lender entering into this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15. **<u>WAIVER OF JURY TRIAL</u>.** BORROWER UNCONDITIONALLY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON, OR ARISING OUT OF, THIS AGREEMENT, THE LOAN DOCUMENTS, ANY EXHIBIT TO THIS AGREEMENT, ANY RELATED DOCUMENTS, ANY DEALINGS BETWEEN LENDER AND BORROWER RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS, AND/OR THE RELATIONSHIP THAT EXISTS BETWEEN LENDER AND BORROWER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING. THIS WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS, OR MODIFICATIONS TO THIS AGREEMENT, ANY EXHIBIT TO THIS AGREEMENT, ANY RELATED DOCUMENTS, OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION. THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.

Sixth Amendment to Loan and Security Agreement Page 6 of 10

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16. **<u>Miscellaneous</u>.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.1. This Sixth Amendment may be executed in a number of identical counterparts which, taken together, shall constitute collectively one (1) agreement; but in making proof of this Sixth Amendment, it shall not be necessary to produce or account for more than one such counterpart executed by the party to be charged. For purposes of executing this Sixth Amendment, a document (or signature page thereto) signed and transmitted by facsimile machine or telecopier or submitted in portable document format (PDF) is to be treated as an original document. The signature of any Party thereon, for purposes hereof, is to be considered as an original signature, and the document transmitted is to be considered to have the same binding effect as an original signature on an original document. At the request of any Party, any facsimile, telecopy or PDF document is to be re-executed in original form by the Parties who executed the facsimile, telecopy or PDF document. No Party may raise the use of a facsimile machine or telecopier or electronic mail or the fact that any signature was transmitted through the use of a facsimile or telecopier machine or via electronic mail as a defense to the enforcement of this Sixth Amendment or any amendment or other document executed in compliance with this Section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.2. Any future waiver, alteration, amendment, or modification of any of the provisions of the Loan Documents or this Sixth Amendment shall not be valid or enforceable unless in writing and signed by all parties, it being expressly agreed that neither the Loan Documents nor this Sixth Amendment can be modified orally, by course of dealing, or by implied agreement. Moreover, any delay by Lender in enforcing its rights after an event of default shall not be a release or waiver of the event of default and shall not be relied upon by Borrower as a release or waiver of the default.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.3. This Sixth Amendment shall be binding upon and shall inure to the benefit of the Parties, their heirs, executors, administrators, successors, legal representatives, and assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4. The headings of Sections in this Sixth Amendment are for convenience of reference only and shall not in any way affect the interpretation or construction of this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.5. The warranties and representations of the parties in this Sixth Amendment shall survive the termination of this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.6. The terms and conditions set forth in this Sixth Amendment are the product of joint draftsmanship by all parties, each being represented by counsel, and any ambiguities in this Sixth Amendment or any documentation prepared pursuant to or in connection with this Sixth Amendment shall not be construed against any of the parties because of draftsmanship.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.7. For purpose of this Sixth Amendment and the Loan Documents, the addresses for notice to Borrower and Lender are as follows:

---

| | | |
|:---|:---|:---|
| A: | If to Lender: | Summit Financial Resources, LLC |
|  |  | 821 Alexander Road |
|  |  | Princeton, NJ 08540 |
|  |  | Attention: Heidi Ames |
|  |  | Email: Hames@SLRBusinessCredit.com |
|  | With a copy to: | Armstrong Teasdale LLP |
|  |  | 7700 Forsyth Blvd., Suite 1800 |
|  |  | St. Louis, Missouri 63105 |
|  |  | Attn: Erin Edelman |
|  |  | Email: <u>eedelman@atllp.com</u> |
| B: | If to Debtor: | Allied Healthcare Products, Inc. |
|  |  | 1720 Sublette Avenue |
|  |  | St. Louis, Missouri 63110 |
|  |  | Attention: Daniel C. Dunn |
|  |  | Email: dunnd@alliedhpi.com |
|  | With a copy to: | Greensfelder Hemker & Gale, P.C. |
|  |  | 10 S. Broadway Suite 2000 |
|  |  | St. Louis, Missouri 63102 |
|  |  | Attention: Joseph D. Lehrer |
|  |  | Email: <u>jdl@greensfelder.com</u> |

---

Sixth Amendment to Loan and Security Agreement Page 7 of 10

Notice shall be in writing, and shall be deemed to have been given (a) 72 hours after being sent by certified or registered mail, return receipt requested, postage prepaid and addressed as set forth above; or (b) if by personal delivery (i) to Borrower when personally delivered to Borrower or any other agent or employee of Borrower at the address set forth above, or (ii) if to Lender, when personally delivered to an executive or officer of Lender at the address set forth above. Rejection or other refusal to accept or inability to deliver because of a changed address of which no notice has been received shall also constitute service of notice. Borrower and Lender may change such address by sending written notice to the others in accordance with the foregoing; however, no written notice of change of address shall be effective until the date of receipt thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17. **<u>Admissibility</u>.** In the event of Borrower's default under, and termination or expiration of, this Sixth Amendment following execution by each Party, and notwithstanding any federal, state, or local statute, rule (such as Federal Rule of Evidence 408), or common law regarding admissibility of any conduct, statement, or document relating to settlement discussions and attempts to compromise, Borrower specifically agrees that the Loan Documents and this Sixth Amendment and all attachments executed in conjunction herewith shall be wholly admissible for the purpose of proving Borrower' liability to Lender under, and the validity of and amount outstanding under, the Loan Documents and this Sixth Amendment. Borrower's agreement and waiver under this Section shall survive termination or expiration of this Sixth Amendment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18. **<u>Integrated Agreement; Amendment</u>.** This Sixth Amendment, together with the Loan Agreement and the other Loan Documents, constitute the entire agreement and understanding between the parties hereto and supersede all other prior and contemporaneous agreements. This Sixth Amendment and the Loan Agreement shall be read and interpreted together as one agreement and shall be governed by and construed in accordance with the laws of the State of Utah without regard to its conflict of laws principles. This Sixth Amendment shall be deemed to have been executed by the parties hereto in the State of Utah and may not be altered or amended except by written agreement signed by Lender and Borrower. All other prior and contemporaneous agreements, arrangements, and understandings between the parties hereto as to the subject matter hereof are, except as otherwise expressly provided herein, rescinded. Borrower acknowledges and agrees that this Sixth Amendment is a final expression of the agreement between Lender and Borrower and this Sixth Amendment may not be contradicted by evidence of any alleged oral agreement.

*[the remainder of this page intentionally left blank; signature(s) follow]*

Sixth Amendment to Loan and Security Agreement Page 8 of 10

**IN WITNESS WHEREOF**, the parties have executed this Sixth Amendment as of the day and year first above written.

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| | | |
|:---|:---|:---|
| **DEBTOR:** | **ALLIED HEALTHCARE PRODUCTS, INC.**, | **ALLIED HEALTHCARE PRODUCTS, INC.**, |
|  | a Delaware corporation | a Delaware corporation |
|  | By: | /s/ Joseph F. Ondrus |
|  | Name: Joseph F. Ondrus | Name: Joseph F. Ondrus |
|  | Title: President and CEO | Title: President and CEO |
| STATE OF MISSOURI) |  |  |
|) SS. |  |  |
| COUNTY OF STATE) |  |  |
| On the 30<sup>th</sup> day of January, 2023, before me, the undersigned, a Notary Public in and for said state, personally appeared Joseph F. Ondrus, President and CEO of Allied Healthcare Products, Inc., a Delaware corporation, personally known to me or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signature(s) on the instrument, the person(s), or the entity, in its capacity(ies) above noted, upon behalf of which the person(s) acted, executed the instrument. | On the 30<sup>th</sup> day of January, 2023, before me, the undersigned, a Notary Public in and for said state, personally appeared Joseph F. Ondrus, President and CEO of Allied Healthcare Products, Inc., a Delaware corporation, personally known to me or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signature(s) on the instrument, the person(s), or the entity, in its capacity(ies) above noted, upon behalf of which the person(s) acted, executed the instrument. | On the 30<sup>th</sup> day of January, 2023, before me, the undersigned, a Notary Public in and for said state, personally appeared Joseph F. Ondrus, President and CEO of Allied Healthcare Products, Inc., a Delaware corporation, personally known to me or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies) and that by his/her/their signature(s) on the instrument, the person(s), or the entity, in its capacity(ies) above noted, upon behalf of which the person(s) acted, executed the instrument. |

---

---

| | | |
|:---|:---|:---|
|  | Signature: | /s/ Rebecca Ruth Tucker |
|  |  | Name: Rebecca Ruth Tucker |
|  | Official Seal | Official Seal |
| My Commission expires: January 31, 2023 | | |
| Notary Registration No.: xxxxxxxx | | |

---

*[Signature Page to Sixth Amendment]*

Sixth Amendment to Loan and Security Agreement Page 9 of 10

**IN WITNESS WHEREOF**, the parties have executed this Sixth Amendment as of the day and year first above written.

---

| | | |
|:---|:---|:---|
| **LENDER:** | **SUMMIT FINANCIAL RESOURCES, LLC,** | **SUMMIT FINANCIAL RESOURCES, LLC,** |
|  | a Delaware limited liability company | a Delaware limited liability company |
|  | By: | /s/ Jeffrey Goldrich |
|  | Name: Jeffrey Goldrich | Name: Jeffrey Goldrich |
|  | Title: President & CEO | Title: President & CEO |

---

*[Signature Page to Sixth Amendment]*

Sixth Amendment to Loan and Security Agreement Page 10 of 10

## Exhibit 99.2

**Exhibit 99.2**

![ALLIED LOGO RESIZED](tm235010d1_ex99-2img01.jpg)

**Allied Healthcare Products, Inc. Amends Credit Agreement and Provides More Information Regarding Nasdaq Delisting**

**St. Louis, Missouri, January 31, 2023** – On January 31, 2023, Allied Healthcare Products, Inc. (the "Company") announced that it had entered into an amendment (the "Amendment") to the Company's Loan and Security Agreement with Summit Financial Resources, LLC ("Summit") dated effective February 27, 2017 (as previously amended, the "Credit Agreement"). The Amendment amends the Credit Agreement, effective January 30, 2023, as follows:

- The maturity date has been amended to be February 20, 2023.

The maximum availability has been amended to $1,500,000. The borrowing base will be solely based on accounts receivable. The Company was required to pay down its inventory advance line to zero balance upon execution of the Amendment and will not be able to borrow against inventory for the remainder of the loan term.

The non-default interest rate will be 6.5% over the prime rate, as defined in the Credit Agreement.

The account administration fee is increasing to 0.6% of the outstanding balance of the loan.

The Company is required to engage the firm of Morris Anderson to consult regarding the Company's operations and to manage the sale of all or substantially all of the Company's assets. The Company is also required to engage an intermediary to broker the sale of the Company's assets. The Company has already engaged Morris Anderson, as previously disclosed in a Current Report on Form 8-K filed on January 26, 2023. The Company has also already engaged an investment banking firm to broker the sale of the Company's assets.

- The Company must provide weekly collateral updates and operate in accordance with an agreed upon budget, subject to certain exceptions described in the Amendment.

Not later than February 19, 2023, the Company must (1) enter into an agreement with a stalking horse bidder reasonably acceptable to Summit for all of the Company's assets, (2) enter into an agreement regarding the restructuring of the Company's business, or (3) engage an auctioneer acceptable to Summit to manage the auction of all of the Company's machinery, equipment and inventory.

Any sales of inventory or fixed assets are required to be used to pay down outstanding amounts under the Credit Agreement.

In the event the Company files bankruptcy proceedings, Summit will be entitled to a fee of $250,000 for providing debtor in possession financing, subject to court approval.

The foregoing is only a summary of the amendment to the Credit Agreement and is qualified in its entirety by the Sixth Amendment to Loan and Security Agreement.

Also, as previously disclosed, on January 25, 2023, Nasdaq notified the Company that, because of the Company's failure to submit a compliance plan and its inability to file the late quarterly report for the quarter ended September 30, 2022, it has determined to delist the Company's stock. The Company does not intend to appeal this decision and the delisting is expected to be effective at the opening of business on February 3, 2023, at which time trading in the Company's stock will be suspended.

In response to stockholder inquiries, the Company is providing the following additional information. Following the close of trading on February 2, 2023, the Company's stock will not trade on Nasdaq or any other stock exchange. It is possible that brokers may make a market in the Company's stock on the OTC markets or the Pink Markets, but the Company does not intend to facilitate such trading in any way. Therefore, it is possible that after the close of trading on February 2, 2023, there will not be a market for the Company's stock. Any market that does develop for the Company's stock will likely be highly illiquid and volatile.

**About the Company**

Allied Healthcare Products, Inc. manufactures a variety of respiratory products used in the health care industry in a wide range of hospital and alternate site settings, including sub-acute care facilities, home health care and emergency medical care. The Company's product lines include respiratory care products, medical gas equipment and emergency medical products.

**Contact**

Daniel Dunn 314-771-2400