Educational Development Corp Enters Material Definitive Agreement
Ticker: EDUC · Form: 8-K · Filed: Jun 17, 2024 · CIK: 31667
Sentiment: neutral
Topics: material-agreement
TL;DR
EDC signed a big deal on 6/13, details TBD.
AI Summary
Educational Development Corporation (EDC) entered into a material definitive agreement on June 13, 2024. The filing does not disclose the specific details of this agreement or any associated dollar amounts. The company is incorporated in Delaware and headquartered in Tulsa, Oklahoma.
Why It Matters
This filing indicates a significant new contract or partnership for Educational Development Corporation, the details of which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The lack of specific details regarding the material definitive agreement introduces uncertainty about its nature and potential impact.
Key Players & Entities
- EDUCATIONAL DEVELOPMENT CORP (company) — Registrant
- June 13, 2024 (date) — Date of earliest event reported
- June 17, 2024 (date) — Date of report
- Delaware (jurisdiction) — State of incorporation
- Tulsa, Oklahoma (location) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Educational Development Corporation?
The filing states that Educational Development Corporation entered into a material definitive agreement on June 13, 2024, but does not provide specific details about its nature.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on June 13, 2024.
What is the principal executive office address for Educational Development Corporation?
The principal executive offices are located at 5402 S 122nd East Avenue, Tulsa, Oklahoma 74146.
What is the telephone number for Educational Development Corporation?
The telephone number, including area code, is (918) 622-4522.
In which state is Educational Development Corporation incorporated?
Educational Development Corporation is incorporated in Delaware.
Filing Stats: 538 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-17 16:49:42
Key Financial Figures
- $7.0 million — ity of the Revolving Loan commitment to $7.0 million through the maturity date of October 4,
- $4.5 million — ional decrease in the Revolving Loan to $4.5 million from the effective date of the sale of
Filing Documents
- edc20240617_8k.htm (8-K) — 23KB
- ex_689514.htm (EX-10.01) — 48KB
- ex_689515.htm (EX-99.1) — 7KB
- 0001185185-24-000636.txt ( ) — 222KB
- educ-20240613.xsd (EX-101.SCH) — 3KB
- educ-20240613_def.xml (EX-101.DEF) — 10KB
- educ-20240613_lab.xml (EX-101.LAB) — 19KB
- educ-20240613_pre.xml (EX-101.PRE) — 11KB
- edc20240617_8k_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On June 13, 2024, Educational Development Corporation (the "Company") executed the Fifth Amendment ("Amendment") to the Existing Credit Agreement ("Amendment") with BOKF, NA (the "Lender"). The Amendment, effective May 31, 2024, adjusts the maximum availability of the Revolving Loan commitment to $7.0 million through the maturity date of October 4, 2024. The Amendment also requires an additional decrease in the Revolving Loan to $4.5 million from the effective date of the sale of the Company's Headquarters building (the "Hilti Complex"). The foregoing description of the Amendment is not complete and is qualified in all respects subject to the actual provisions of the Amendment, a copy of which have been filed as Exhibits 10.01, and is incorporated by reference herein.
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) EXHIBITS Exhibit Number Description 10.01 Fifth Amendment to Credit Agreement executed June 13th by and between the Company and BOKF, NA, Tulsa, OK 99.1 Press Release dated June 17, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) SIGNATURE Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Educational Development Corporation By: /s/ Craig M. White Craig M. White President and Chief Executive Officer Date: June 17, 2024