Cyanotech Corp Enters Material Definitive Agreement
Ticker: CYAND · Form: 8-K · Filed: Sep 2, 2025 · CIK: 768408
| Field | Detail |
|---|---|
| Company | Cyanotech Corp (CYAND) |
| Form Type | 8-K |
| Filed Date | Sep 2, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $4,000,000, $4,600,000, $250,000, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
CYAN just signed a big deal creating a financial obligation. Keep an eye on their financials.
AI Summary
On August 29, 2025, Cyanotech Corporation entered into a material definitive agreement, creating a direct financial obligation. The company, incorporated in Nevada, reported this event on August 29, 2025, with its principal executive offices located in Kailua Kona, HI.
Why It Matters
This filing indicates Cyanotech Corporation has entered into a significant agreement that creates a financial obligation, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement that creates a financial obligation can introduce new risks related to the terms of the agreement and the company's ability to meet its obligations.
Key Numbers
- 000-14602 — SEC File Number (Identifies the company's filing history with the SEC.)
- 91-1206026 — IRS Employer Identification Number (Unique identifier for tax purposes.)
Key Players & Entities
- Cyanotech Corporation (company) — Registrant
- August 29, 2025 (date) — Date of Report
- Nevada (jurisdiction) — State of incorporation
- Kailua Kona, HI (location) — Address of principal executive offices
FAQ
What type of material definitive agreement did Cyanotech Corporation enter into?
The filing states that Cyanotech Corporation entered into a material definitive agreement that creates a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details of the agreement are not provided in this excerpt.
When was the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is August 29, 2025.
Where are Cyanotech Corporation's principal executive offices located?
Cyanotech Corporation's principal executive offices are located at 73-4460 Queen Kaahumanu Highway, Suite #102, Kailua Kona, HI 96740.
In which state is Cyanotech Corporation incorporated?
Cyanotech Corporation is incorporated in Nevada.
What is the SIC code for Cyanotech Corporation?
The Standard Industrial Classification (SIC) code for Cyanotech Corporation is 2833, which corresponds to MEDICINAL CHEMICALS & BOTANICAL PRODUCTS.
Filing Stats: 634 words · 3 min read · ~2 pages · Grade level 12.3 · Accepted 2025-09-02 09:30:08
Key Financial Figures
- $4,000,000 — w from time to time under the Note from $4,000,000 to $4,600,000 on a revolving basis (the
- $4,600,000 — time under the Note from $4,000,000 to $4,600,000 on a revolving basis (the "Revolver"),
- $250,000 — "), lowers the minimum draw amount from $250,000 to $200,000, and amends the maturity da
- $200,000 — he minimum draw amount from $250,000 to $200,000, and amends the maturity date of the Re
Filing Documents
- cyan20250830_8k.htm (8-K) — 29KB
- ex_858370.htm (EX-10.1) — 16KB
- 0001437749-25-028099.txt ( ) — 168KB
- cyan-20250829.xsd (EX-101.SCH) — 3KB
- cyan-20250829_def.xml (EX-101.DEF) — 10KB
- cyan-20250829_lab.xml (EX-101.LAB) — 14KB
- cyan-20250829_pre.xml (EX-101.PRE) — 11KB
- cyan20250830_8k_htm.xml (XML) — 3KB
01
Item 1.01. Entry into a Material Definitive Agreement. On August 29, 2025, Cyanotech Corporation (the "Company") entered into a Fifth Amendment (the "Amendment") to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc. ("Skywords"), dated as of April 12, 2021 and amended on December 14, 2022, August 13, 2023, August 9, 2024 and May 2, 2025 (the "Note"). The Amendment increases the amount that the Company may borrow from time to time under the Note from $4,000,000 to $4,600,000 on a revolving basis (the "Revolver"), lowers the minimum draw amount from $250,000 to $200,000, and amends the maturity date of the Revolver from April 12, 2026 to April 12, 2027. All other terms of the Note remain the same. Skywords is controlled by Michael Davis, the Company's Chairman of the Board of Directors and largest stockholder. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
03
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Name and/or Identification of Exhibit 10.1 Fifth Amendment to Amended and Restated Promissory Note, dated August 29, 2025, by and between Skywords Family Foundation, Inc. and Cyanotech Corporation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CYANOTECH CORPORATION Dated: September 2, 2025 /s/ Matthew K. Custer By: Matthew K. Custer President and Chief Executive Officer EXHIBIT INDEX Exhibit Number Name and/or Identification of Exhibit 10.1 Fifth Amendment to Amended and Restated Promissory Note, dated August 29, 2025, by and between Skywords Family Foundation, Inc. and Cyanotech Corporation 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)