Optical Cable Corp Enters Material Definitive Agreement

TL;DR

OCC signed a big deal on 6/27, filing includes financials.

AI Summary

Optical Cable Corporation entered into a Material Definitive Agreement on June 27, 2024. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Virginia and its principal executive offices are located in Roanoke, VA.

Why It Matters

This filing indicates a significant new agreement for Optical Cable Corp, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.

Key Players & Entities

• Optical Cable Corporation (company) — Registrant
• June 27, 2024 (date) — Date of earliest event reported
• Roanoke, VA (location) — Principal executive offices

FAQ

Key Financial Figures

• $18,000,000 — nditions of an Eighteen Million Dollar ($18,000,000) Revolving Credit Facility by Lender to
• $10,000 — l Facility Fee of Ten Thousand Dollars ($10,000) at the initial occurrence that the amo
• $1,000,000 — nitial Term (rounded upward to the next $1,000,000 unless such amount is a multiple of $1,
• $7,000,000 — Inventory; (ii) Seven Million Dollars ($7,000,000); and (iii) an amount not to exceed on
• $300,000 — exceed Three Hundred Thousand Dollars ($300,000). Lender may create reserves against, o
• $7,837,102 — al balance of the Loan is approximately $7,837,102 at July 2, 2024. The Modification Agre

Filing Documents

• occ20240702_8k.htm (8-K) — 68KB
• ex_695221.htm (EX-4.1) — 57KB
• 0001437749-24-022133.txt ( ) — 270KB
• occ-20240627.xsd (EX-101.SCH) — 3KB
• occ-20240627_def.xml (EX-101.DEF) — 11KB
• occ-20240627_lab.xml (EX-101.LAB) — 15KB
• occ-20240627_pre.xml (EX-101.PRE) — 11KB
• occ20240702_8k_htm.xml (XML) — 3KB

01 Entry Into a Definitive Material Agreement

Item 1.01 Entry Into a Definitive Material Agreement 3

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits 6

Signatures

Signatures 7 Exhibits 2 Table of Contents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On June 27, 2024, a Modification Agreement (the "Modification Agreement") was entered into by and between North Mill Capital LLC, a Delaware limited liability company, doing business as SLR Business Credit ("Lender"), with a place of business at 821 Alexander Road, Suite 130, Princeton, New Jersey 08540, and Optical Cable Corporation, a Virginia corporation ("OCC" or the "Company"), with its chief executive office located at 5290 Concourse Drive, Roanoke, Virginia 24019, and Applied Optical Systems, Inc., a Delaware corporation ("AOS"), and Centric Solutions LLC, a Delaware limited liability company ("Centric," and together with OCC and AOS, individually and collectively, "Borrower"), to modify the existing Loan and Security Agreement dated as of July 24, 2020, as previously amended by a modification agreement dated July 5, 2022 (together, the "Loan Agreement"). The Loan Agreement sets forth the terms and conditions of an Eighteen Million Dollar ($18,000,000) Revolving Credit Facility by Lender to Borrower and is set to expire on July 24, 2025 (the "Expiration Date"). The Modification Agreement provides for (a) a two-year extension of the Loan Agreement to July 24, 2027 (the "Initial Term"); (b) an increase in the Eligible Inventory maximum; and (c) the modification of certain other terms and conditions set forth in the Loan Agreement and all other documents related to the Loan Agreement (the "Loan Documents"). (a) The following definitions in Section 1.1 (Terms) of the Loan Agreement were modified to read as follows: "Termination Date means (a) July 24, 2027 (which represents a two-year extension of the initial term which would have ended on July 24, 2025 but for such extension with such extended period now being, the Initial Term ) unless such date is extended pursuant to Section 3.1 hereof, and if so extended on one or more occasions the last date of the last such extension, or (b) if earlier terminated

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (c) Exhibits The following are filed as Exhibits to this Report. Exhibit No. Description of Exhibit 4.1 Modification Agreement dated as of June 27, 2024, by and between North Mill Capital LLC, a Delaware limited liability company, doing business as SLR Business Credit, and Optical Cable Corporation, Applied Optical Systems, Inc., and Centric Solutions LLC. (FILED HEREWITH) 104 Cover page Interactive Data File (embedded within the inline XBRL document) 6 Table of Contents

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. OPTICAL CABLE CORPORATION By: /s/ Tracy G. Smith Name: Tracy G. Smith Title: Senior Vice President and Chief Financial Officer Dated: July 3, 2024 7

View Full Filing

View this 8-K filing on SEC EDGAR