inTEST Corp Enters New Credit Agreement

TL;DR

inTEST Corp just signed a new credit agreement, likely taking on more debt.

AI Summary

On December 18, 2024, inTEST Corporation entered into a Material Definitive Agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant, indicating new debt financing. The filing was made on December 19, 2024.

Why It Matters

This filing indicates that inTEST Corporation has secured new financing, which could impact its financial flexibility and future investment capabilities.

Risk Assessment

Risk Level: medium — Entering into new debt agreements can increase financial leverage and associated risks, depending on the terms and the company's ability to service the debt.

Key Players & Entities

• inTEST Corporation (company) — Registrant
• December 18, 2024 (date) — Date of earliest event reported
• December 19, 2024 (date) — Filing date
• Delaware (jurisdiction) — State of Incorporation
• 804 East Gate Drive, Suite 200, Mt. Laurel, New Jersey 08054 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — h Registered Common Stock , par value $0.01 per share INTT NYSE American Indica

Filing Documents

• intt20241219_8k.htm (8-K) — 28KB
• ex_759366.htm (EX-10.1) — 249KB
• ex_759367.htm (EX-10.2) — 73KB
• ex_759368.htm (EX-10.3) — 116KB
• ex_759369.htm (EX-10.4) — 72KB
• a02.jpg (GRAPHIC) — 160KB
• ex_759366img001.jpg (GRAPHIC) — 3KB
• ex_759366img002.jpg (GRAPHIC) — 3KB
• ex_759366img003.jpg (GRAPHIC) — 5KB
• ex_759366img004.jpg (GRAPHIC) — 6KB
• ex_759366img005.jpg (GRAPHIC) — 2KB
• ex_759368img002.jpg (GRAPHIC) — 3KB
• ex_759368img003.jpg (GRAPHIC) — 3KB
• ex_759368img004.jpg (GRAPHIC) — 5KB
• ex_759368img005.jpg (GRAPHIC) — 6KB
• 0001437749-24-037961.txt ( ) — 1015KB
• intt-20241218.xsd (EX-101.SCH) — 3KB
• intt-20241218_def.xml (EX-101.DEF) — 11KB
• intt-20241218_lab.xml (EX-101.LAB) — 15KB
• intt-20241218_pre.xml (EX-101.PRE) — 11KB
• intt20241219_8k_htm.xml (XML) — 3KB

01

Item 1.01. Entry into a Material Definitive Agreement. The information set forth in Item 2.03 of this Current Report on Form 8-K 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. As previously disclosed, inTEST Corporation (the "Company") entered into an Amended and Restated Loan and Security Agreement (the "Original Credit Agreement") with M&T Bank on October 15, 2021. The Original Credit Agreement was amended by the Joinder and Amendment to Amended and Restated Loan and Security Agreement, dated October 28, 2021, the Joinder and Second Amendment to Amended and Restated Loan and Security Agreement, dated December 30, 2021, the Third Amendment to Amended and Restated Loan and Security Agreement, dated September 20, 2022, and the Fourth Amendment to Amended and Restated Loan and Security Agreement, dated May 2, 2024 (collectively and together with the Original Credit Agreement, the "Credit Agreement"). On December 18, 2024, the Company entered into a Joinder and Fifth Amendment to Amended and Restated Loan and Security Agreement (the "December Joinder") and related agreements with M&T Bank to add the Company's subsidiary, inTEST Italy, Inc., as a subsidiary guarantor under the Credit Agreement. The foregoing description of the December Joinder, Fifth Amended and Restated Surety Agreement, Third Amended and Restated Patents, Trademarks, Copyrights and Licenses Security Agreement, and Pledge Agreement is a summary only and is qualified in all respects by the provisions of the agreements, copies of which are attached hereto as Exhibits 10.1, 10.2, 10.3, and 10.4, respectively, and are incorporated by reference herein.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Joinder and Fifth Amendment to Amended and Restated Loan and Security Agreement, dated December 18, 2024, among inTEST Corporation, Ambrell Corporation, inTEST Silicon Valley Corporation, inTEST EMS, LLC, Temptronic Corporation, Videology Imaging Corporation, Acculogic Ltd., Acculogic Inc., inTEST Italy, Inc. and M&T Bank. 10.2 Third Amended and Restated Surety Agreement, dated December 18, 2024, among Ambrell Corporation, inTEST Silicon Valley Corporation, inTEST EMS, LLC, Temptronic Corporation, Videology Imaging Corporation, Acculogic Ltd., inTEST Italy, Inc. and M&T Bank. 10.3 Third Amended and Restated Patents, Trademarks, Copyrights and Licenses Security Agreement, dated December 18, 2024, among inTEST Corporation, Ambrell Corporation, inTEST Silicon Valley Corporation, inTEST EMS, LLC, Temptronic Corporation, Videology Imaging Corporation, Acculogic Ltd., inTEST Italy, Inc. and M&T Bank. 10.4 Pledge Agreement, dated December 18, 2024, between inTEST Corporation and M&T Bank. 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document. SIGNATURE 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. inTEST CORPORATION By: /s/ Duncan Gilmour Duncan Gilmour Chief Financial Officer, Treasurer and Secretary Date: December 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR