Item 8.01 Other Events.
On April 17, 2020, Micropac Industries, Inc. (the Company) obtained an unsecured
$1,924,400 loan under the Paycheck Protection Program (the PPP Loan). The
Paycheck Protection Program (or PPP) was established under the recently
congressionally-approved Coronavirus Aid, Relief, and Economic Security Act (the
CARES Act) and is administered by the U.S. Small Business Administration. The
PPP Loan to the Company is being made through Frost Bank, the Company s existing
lender (the Lender).
Based upon updated guidance issued April 23, 2020 by the Federal Government
including a presumption that no publicly traded companies with sources of
liquidity are eligible for a PPP loan, the Company intends to return the loan
proceeds within the time period imposed under these new guidelines, subject to
any additional guidance that may be issued by the Federal Government.
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MICROPAC INDUSTRIES, INC. 
