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TECHPRECISION CORPORATION

(TPCS)
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TECHPRECISION CORP : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)

06/29/2021 | 04:37pm EDT

Item 1.01 Entry into a Material Definitive Agreement.

As previously disclosed, on April 23, 2021, Stadco New Acquisition, LLC ("Acquisition Sub"), a wholly owned subsidiary of TechPrecision Corporation (the "Company"), Sunflower Bank, N.A. ("Sunflower Bank"), Stadco, Stadco Acquisition, LLC and Stadco Mexico, Inc. entered into an Amended and Restated Loan Purchase Agreement (the "Agreement"). On June 28, 2021, the parties to the Agreement entered into an Amendment to Amended and Restated Loan Purchase and Sale Agreement (the "Amendment"). The Amendment extends the outside date by which the parties thereto must consummate the transactions therein from fifteen (15) days following the anticipated closing date of June 15, 2021 to July 30, 2021.

There is no material relationship between Acquisition Sub or the Company, on the one hand, and Sunflower Bank, on the other hand, other than in respect of the Agreement. The description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.





 (d) Exhibits




Exhibit
Number   Description

  10.1     Amendment to Amended and Restated Loan Purchase and Sale Agreement,
         dated as of June 28, 2021, between Stadco New Acquisition, LLC, Stadco,
         Stadco Acquisition LLC and Stadco Mexico, Inc. and Sunflower Bank,
         N.A.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 15,6 M - -
Net income 2021 0,32 M - -
Net Debt 2021 1,69 M - -
P/E ratio 2021 127x
Yield 2021 -
Capitalization 59,9 M 59,9 M -
EV / Sales 2020 2,43x
EV / Sales 2021 2,51x
Nbr of Employees 93
Free-Float 87,5%
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Income Statement Evolution
Managers and Directors
Alexander Shen Chief Executive Officer
Thomas C. Sammons Chief Financial Officer
Richard S. McGowan Non-Executive Chairman
Andrew A. Levy Independent Director
Robert A. Crisafulli Independent Director
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