Optex Systems Holdings, Inc., a Delaware-based corporation, along with its subsidiary, Optex Systems, Inc., has renewed its existing credit facility with Texas Capital Bank. Effective May 22, 2025, the new Business Loan Agreement establishes a revolving line of credit amounting to $3 million, with a commitment period of 24 months, expiring on May 22, 2027. The interest on the outstanding advances will accrue at a variable rate, currently set at 7.07% per annum. The agreement includes customary covenants, a fixed charge coverage ratio of at least 1.25:1, and a total leverage ratio of 3:1. Additionally, the facility is secured by the Borrowers' operating assets and includes a $125,000 Letter of Credit sublimit.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Optex Systems Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-012121), on May 22, 2025, and is solely responsible for the information contained therein.