TECHPRECISION CORP (TPCS) Form 8-K — Oct 28, 2026
TechPrecision's subsidiaries entered a sixteenth amendment with Beacon Bank & Trust extending the $4.5 million revolving line of credit maturity from October 16, 2026 to November 30, 2026, a span of only about six weeks. The company paid a $15,000 failure-to-perform fee and a $2,500 modification fee for the extension. The amendment formally acknowledges continuing Events of Default from breaches of minimum debt service coverage and maximum balance sheet leverage covenants across quarters dating back to 2023.
Key figures
- Debt Amount
- $4,500,000 revolving line of credit (maximum principal); $2,850,000 Ranor Term Loan; $4,000,000 Stadco Term Loan
- Maturity Date
- November 30, 2026
- Extension fee
- $15,000 failure to perform fee plus $2,500 modification fee
- Prior maturity
- October 16, 2026
- Amendment number
- Sixteenth amendment to loan agreement
AI analysis
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