PRO-DEX (PDEX) Reports Material Agreement & New Financial Obligation
Ticker: PDEX · Form: 8-K · Filed: Jan 3, 2024 · CIK: 788920
| Field | Detail |
|---|---|
| Company | Pro Dex Inc (PDEX) |
| Form Type | 8-K |
| Filed Date | Jan 3, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $2,500,000, $17,535 |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: material-agreement, debt, corporate-action
TL;DR
**PDEX just took on a new financial obligation and signed a major deal, details pending.**
AI Summary
PRO-DEX, INC. (PDEX) filed an 8-K on January 3, 2024, reporting events that occurred on December 29, 2023. The filing indicates the company entered into a material definitive agreement and created a direct financial obligation, as per Item 1.01 and Item 2.03 of Form 8-K. While specific details of the agreement and obligation are not provided in this excerpt, this matters to investors because such events can significantly impact the company's financial health, future operations, and stock valuation, potentially leading to increased debt or new strategic directions.
Why It Matters
This filing signals significant corporate actions that could alter PRO-DEX's financial structure or strategic direction, directly impacting its future profitability and stock performance.
Risk Assessment
Risk Level: medium — The filing indicates new financial obligations and material agreements without providing specific details, creating uncertainty about their potential positive or negative impact.
Analyst Insight
Investors should monitor for subsequent filings from PRO-DEX, INC. that provide specific details about the material definitive agreement and the nature and size of the direct financial obligation, as these will be crucial for assessing the company's future prospects and potential impact on stock value.
Key Players & Entities
- PRO-DEX, INC. (company) — the registrant filing the 8-K
- December 29, 2023 (date) — date of the earliest event reported
- January 3, 2024 (date) — date the 8-K was filed
- 0-14942 (other) — Commission File Number for PRO-DEX, INC.
- 84-1261240 (other) — IRS Employer Identification Number for PRO-DEX, INC.
- PDEX (other) — Trading Symbol for PRO-DEX, INC.
Forward-Looking Statements
- PRO-DEX, INC. will file a subsequent 8-K or 10-Q providing more details on the material definitive agreement and financial obligation. (PRO-DEX, INC.) — high confidence, target: 2024-03-31
FAQ
What specific items of Form 8-K did PRO-DEX, INC. report in this filing?
PRO-DEX, INC. reported under Item 1.01, 'Entry into a Material Definitive Agreement,' and Item 2.03, 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,' for events occurring on December 29, 2023.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on December 29, 2023.
What is the trading symbol and exchange for PRO-DEX, INC. common stock?
The trading symbol for PRO-DEX, INC. common stock is PDEX, and it is registered on the NASDAQ Capital Market.
What is the business address and phone number of PRO-DEX, INC.?
The business address of PRO-DEX, INC. is 2361 McGaw Avenue, Irvine, California 92614, and their telephone number is (949) 769-3200.
What is the Central Index Key (CIK) for PRO-DEX, INC.?
The Central Index Key (CIK) for PRO-DEX, INC. is 0000788920.
Filing Stats: 1,134 words · 5 min read · ~4 pages · Grade level 12.7 · Accepted 2024-01-03 16:00:43
Key Financial Figures
- $2,500,000 — rt on Form 8-K, the Company's has drawn $2,500,000 against the Revolving Note, the entire
- $17,535 — on fees and legal fees in the amount of $17,535 have been paid to MBT in conjunction wi
Filing Documents
- pdex_8k.htm (8-K) — 32KB
- pdex_ex10z1.htm (EX-10.1) — 70KB
- image_003.gif (GRAPHIC) — 8KB
- image_004.gif (GRAPHIC) — 13KB
- 0001079973-24-000007.txt ( ) — 313KB
- pdex-20231229.xsd (EX-101.SCH) — 3KB
- pdex-20231229_lab.xml (EX-101.LAB) — 33KB
- pdex-20231229_pre.xml (EX-101.PRE) — 22KB
- pdex_8k_htm.xml (XML) — 3KB
01. Financial Statements
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Amendment No 3 to Amended and Restated Credit Agreement dated December 29, 2023 by and between Pro-Dex, Inc. and Minnesota Bank & Trust, a division of HTLF Bank. 104 Cover Page Interactive Data File (the cover page XBRL tags are 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. Date: January 3, 2024 Pro-Dex, Inc. By: /s/ Alisha K. Charlton Alisha K. Charlton Chief Financial Officer