Educational Development Corp Files 8-K with New Agreement
Ticker: EDUC · Form: 8-K · Filed: Oct 7, 2024 · CIK: 31667
Sentiment: neutral
Topics: material-agreement, filing, financials
TL;DR
EDC filed an 8-K on Oct 7, reporting a material agreement from Oct 3. Details pending.
AI Summary
Educational Development Corporation entered into a Material Definitive Agreement on October 3, 2024. The company also filed financial statements and exhibits as part of this 8-K filing on October 7, 2024. Specific details of the agreement and financial statements were not provided in the excerpt.
Why It Matters
This filing indicates a significant event, such as a new contract or partnership, for Educational Development Corporation, which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — The filing of a Material Definitive Agreement suggests a potentially significant event, but the lack of specific details in the provided text makes it difficult to assess the immediate impact or risk.
Key Players & Entities
- EDUCATIONAL DEVELOPMENT CORP (company) — Registrant
- October 3, 2024 (date) — Date of earliest event reported
- October 7, 2024 (date) — Date of report
- 000-04957 (company) — SEC File Number
- 73-0750007 (company) — I.R.S Employer Identification No.
- 5402 S 122nd E Avenue, Tulsa, Oklahoma 74146 (location) — Address of principal executive offices
- 918-622-4522 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the Material Definitive Agreement entered into by Educational Development Corporation?
The provided excerpt states that Educational Development Corporation entered into a Material Definitive Agreement on October 3, 2024, but does not specify the details of this agreement.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted to the SEC on October 7, 2024.
What are the principal executive offices of Educational Development Corporation?
The principal executive offices of Educational Development Corporation are located at 5402 S 122nd E Avenue, Tulsa, Oklahoma 74146.
What is the SEC file number for Educational Development Corporation?
The SEC file number for Educational Development Corporation is 000-04957.
What items are being reported in this 8-K filing?
This 8-K filing reports on the 'Entry into a Material Definitive Agreement' and 'Financial Statements and Exhibits'.
Filing Stats: 514 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-10-07 17:01:35
Key Financial Figures
- $5.5 million — own reductions in the Revolving Loan to $5.5 million effective date November 30, 2024. The
Filing Documents
- edc20241007_8k.htm (8-K) — 23KB
- ex_730497.htm (EX-10.1) — 35KB
- ex_730498.htm (EX-99.1) — 6KB
- 0001185185-24-000959.txt ( ) — 194KB
- educ-20241003.xsd (EX-101.SCH) — 3KB
- educ-20241003_lab.xml (EX-101.LAB) — 19KB
- educ-20241003_pre.xml (EX-101.PRE) — 11KB
- edc20241007_8k_htm.xml (XML) — 3KB
01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On October 3, 2024, Educational Development Corporation (the "Company") executed the Sixth Amendment ("Amendment") to the Existing Credit Agreement ("Amendment") with BOKF, NA (the "Lender"). The Amendment, effective October 3, 2024, extends the Revolving Loan commitment through the maturity date of January 4, 2025 and includes step down reductions in the Revolving Loan to $5.5 million effective date November 30, 2024. 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 Sixth Amendment to Credit Agreement executed October 3rd by and between the Company and BOKF, NA, Tulsa, OK 99.1 Press Release dated October 7, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL) 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: October 7, 2024