ITEM 1.01. Entry into a Material Definitive Agreement.
On April 25, 2022, SigmaTron International, Inc. (the "Company"), Wagz, Inc.
("Wagz") and JPMorgan Chase Bank, N.A. ("Lender") entered a sixth amendment (the
"Amendment") to the credit agreement dated as of January 29, 2021 (the "Credit
Agreement" and as amended the "Amended Credit Agreement"). The Amendment
provides for a temporary term loan in the principal amount of $5 million with a
maturity date of August 23, 2022 and which is prepayable without penalty (the
"Loan"). The principal amount of the Loan initially accrues interest at an
annual rate equal to the secured overnight financing rate ("SOFR") plus an
applicable margin of 4.00%. In addition, pursuant to the Amendment, Wagz was
added as a loan party and guarantor under the Amended Credit Agreement. A copy
of the Amendment is filed herewith as Exhibit 10.1 and incorporated herein by
reference.
ITEM 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is incorporated by reference herein.
ITEM 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
Exhibit 10.1 Sixth Amendment to the Credit Agreement dated April 25, 2022 by
and among SigmaTron International, Inc., Wagz, Inc. and JPMorgan
Chase Bank, N.A.
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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