PRO DEX INC Files Material Definitive Agreement

TL;DR

PRO DEX INC just signed a big deal, could be a loan or something similar.

AI Summary

On December 23, 2024, PRO DEX INC entered into a material definitive agreement, likely a financing arrangement, as indicated by the filing of a Form 8-K. The company, previously known as PRO-DEX, INC., is based in Irvine, CA, and operates in the Surgical & Medical Instruments & Apparatus industry.

Why It Matters

This filing indicates a significant new agreement for PRO DEX INC, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Players & Entities

• PRO DEX INC (company) — Registrant
• PRO-DEX, INC. (company) — Former company name
• December 23, 2024 (date) — Date of earliest event reported
• 2361 McGaw Avenue Irvine, CA 92614 (location) — Business Address

FAQ

Key Financial Figures

• $7,000,000 — tend the maturity date of the Company's $7,000,000 revolving line of credit (the "Revolvin
• $3,500,000 — port on Form 8-K, the Company has drawn $3,500,000 against the Revolving Loan, the entire
• $10,000 — d a loan extension fee in the amount of $10,000 to MBT in conjunction with the Credit A

Filing Documents

• pdex_8k.htm (8-K) — 30KB
• ex10x1.htm (EX-10.1) — 31KB
• ex10x2.htm (EX-10.2) — 56KB
• 0001079973-24-001778.txt ( ) — 308KB
• pdex-20241223.xsd (EX-101.SCH) — 3KB
• pdex-20241223_lab.xml (EX-101.LAB) — 33KB
• pdex-20241223_pre.xml (EX-101.PRE) — 22KB
• pdex_8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. Amendment to Credit Agreement & Amended and Restated Revolving Credit Note On December 23, 2024, Pro-Dex, Inc. (the "Company") entered into Amendment No. 5 to Amended and Restated Credit Agreement (the "Amendment") with Minnesota Bank and Trust, a division of HTLF Bank ("MBT"), successor by merger to Minnesota Bank and Trust, which amends the Company's Amended and Restated Credit Agreement with MBT (as amended, the "Credit Agreement"), as well as an Amended and Restated Revolving Credit Note with MBT (the "Revolving Note" and, together with the Amendment, the "Credit Agreement Amendments"). The Credit Agreement Amendments extend the maturity date of the Company's $7,000,000 revolving line of credit (the "Revolving Loan") with MBT from December 29, 2025, to December 29, 2026 . The Revolving Loan may be borrowed against from time to time by the Company through its maturity date on the terms set forth in the Credit Agreement. As of the date of this Current Report on Form 8-K, the Company has drawn $3,500,000 against the Revolving Loan, the entire amount of which remains outstanding. The Company paid a loan extension fee in the amount of $10,000 to MBT in conjunction with the Credit Agreement Amendments. The Revolving Loan bears interest at an annual rate equal to the greater of (a) 4.0% or (b) SOFR for a one-month period from the website of the CME Group Benchmark Administration Limited, plus 2.5%. Commencing on the first day of each month after the Company initially borrows against the Revolving Loan and each month thereafter until maturity, the Company is required to pay all accrued and unpaid interest on the Revolving Loan through the date of payment. Any principal on the Revolving Loan that is not previously prepaid by the Company shall be due and payable in full on the maturity date (or earlier termination of the Revolving Loan). Upon the occurrence and during the continuance of an event of default, the i

03. Creation

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off- Balance Sheet Arrangement of a Registrant. The disclosures concerning the Amendment and the Revolving Note contained in Item 1.01 above are incorporated into this Item 2.03 by this reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Amendment No. 5 to Amended and Restated Credit Agreement dated December 23, 2024 by and between Pro-Dex, Inc. and Minnesota Bank & Trust, a division of HTLF Bank. 10.2 Amended and Restated Revolving Credit Note dated December 23, 2024, made by Pro-Dex, Inc. in favor of Minnesota Bank & Trust, 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: December 27, 2024 Pr o-Dex, Inc. By: /s/ Alisha K. Charlton Alisha K. Charlton Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR