Astronics Corp. Enters, Terminates Agreements, Creates Financial Obligation

TL;DR

Astronics Corp. just signed and broke deals, and now owes money. Big changes happening.

AI Summary

Astronics Corp. announced on October 22, 2025, that it entered into a material definitive agreement and also terminated a material definitive agreement. The company also created a direct financial obligation or an obligation under an off-balance sheet arrangement. These events are disclosed under Regulation FD.

Why It Matters

This filing indicates significant changes in Astronics Corp.'s contractual and financial commitments, which could impact its future operations and financial health.

Risk Assessment

Risk Level: medium — The simultaneous entry into and termination of material agreements, along with the creation of new financial obligations, suggests potential volatility and uncertainty in the company's business dealings.

Key Players & Entities

• Astronics Corp. (company) — Registrant
• October 22, 2025 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $220.0 million — volving credit facility thereunder from $220.0 million (the maximum aggregate amount available
• $300.0 million — of the Asset Based Credit Agreement) to $300.0 million. The Company has the option to request
• $100.0 million — e in the Revolving Commitments by up to $100.0 million plus an additional incremental amount s

Filing Documents

• atro-20251022.htm (8-K) — 29KB
• a102225exhibit101.htm (EX-10.1) — 1114KB
• a102225exhibit991.htm (EX-99.1) — 13KB
• image_0.jpg (GRAPHIC) — 2KB
• image_1a.jpg (GRAPHIC) — 44KB
• 0000008063-25-000077.txt ( ) — 1545KB
• atro-20251022.xsd (EX-101.SCH) — 2KB
• atro-20251022_lab.xml (EX-101.LAB) — 21KB
• atro-20251022_pre.xml (EX-101.PRE) — 12KB
• atro-20251022_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. Astronics Corporation (the "Company") entered into a Credit Agreement (the "Revolving Credit Agreement"), dated as of October 22, 2025, with HSBC Bank USA, National Association, as administrative agent for the lenders ("HSBC"), the guarantors party thereto, and the lenders signatory thereto. The cash flow-based revolving credit facility under the Revolving Credit Agreement replaces the Company's asset-based credit facility. As such, the Seventh Amended and Restated Credit Agreement, dated as of July 11, 2024 by and among the Company, HSBC, as administrative agent for the lenders, and the lenders signatory thereto, as further amended (the "Asset Based Credit Agreement") was terminated on October 22, 2025 simultaneously with the Company's entry into the Revolving Credit Agreement. The Revolving Credit Agreement increased the maximum aggregate amount of Revolving Commitments (as defined in the Revolving Credit Agreement) that the Company can draw on pursuant to the revolving credit facility thereunder from $220.0 million (the maximum aggregate amount available to be drawn under the terms of the Asset Based Credit Agreement) to $300.0 million. The Company has the option to request an increase in the Revolving Commitments by up to $100.0 million plus an additional incremental amount so long as the maximum leverage requirements set forth in the Revolving Credit Agreement are met. The scheduled maturity date for the Revolving Credit Agreement is October 16, 2030. Under the terms of the Revolving Credit Agreement, the Company will pay interest on the unpaid principal amount outstanding under the Revolving Credit Agreement at a rate equal to Term SOFR (as defined in the Revolving Credit Agreement) plus an applicable margin ranging from 1.25% to 2.125% determined based upon the Company's Total Net Debt Leverage Ratio (as defined in the Revolving Credit Agreement). The Company will pay a quarterly commitment fee under th

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. On October 22, 2025, the Company repaid in full all outstanding indebtedness under the Asset Based Credit Agreement, and the Asset Based Credit Agreement was terminated as of that date. The Company funded the repayment of its obligations under the Asset Based Credit Agreement with borrowings under the Revolving Credit Agreement. There were no termination penalties incurred by the Company in connection with the termination of the Asset Based Credit Agreement. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure set forth in Item 1.01 above is incorporated into this Item 2.03 by reference.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On October 22, 2025, the Company issued a news release announcing the entry into the Revolving Credit Agreement. A copy of the press release is attached as Exhibit 99.1. The information contained in this Item 7.01 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any filing of the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The information in this Item 7.01, including the Exhibit 99.1, hereto, shall not be deemed to be "filed" for purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit Description 10.1 Credit Agreement dated as of October 22, 2025, by and among Astronics Corporation, the guarantors signatory thereto, HSBC Bank USA, National Association, as administrative agent for the lenders, and the lenders signatory thereto 99.1 Press Release of Astronics Corporation, dated October 22, 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Astronics Corporation Date: October 22, 2025 By: /s/ Nancy L. Hedges Nancy L. Hedges Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR