Brief: Flux Power Holdings Inc - On April 27, Co And Flux Power Entered Into Fifth Amendment To Loan And Security Agreement With Silicon Valley Bank

Flux Power Holdings

27/04/2023 23:01

April 27 (Reuters) - Flux Power Holdings Inc  FLUX.O :
    * FLUX POWER HOLDINGS INC - ON APRIL 27, CO AND FLUX POWER
ENTERED
INTO FIFTH AMENDMENT TO LOAN AND SECURITY AGREEMENT WITH SILICON
VALLEY BANK
    * FLUX POWER HOLDINGS INC - FIFTH AMENDMENT AMENDED CERTAIN
TERMS
OF LOAN AND SECURITY AGREEMENT DATED NOVEMBER 9, 2020
    * FLUX POWER HOLDINGS - POST AMENDMENT, CO AGREED TO PAY SVB
NON-REFUNDABLE AMENDMENT FEE OF $30,000, SVB'S LEGAL FEES,
EXPENSES INCURRED WITH AMENDMENT
    * FLUX POWER HOLDINGS - SVB ALSO AGREED TO WAIVE COMPLIANCE
BY CO
OF FORMER EBIDTA FINANCIAL COVENANT UNDER AGREEMENT AS OF MONTH
ENDED MARCH 31
    * FLUX POWER HOLDINGS INC - FLUX POWER RENEWS $14 MILLION
CREDIT
FACILITY WITH FIRST CITIZENS BANK

Further company coverage:  FLUX.O 

 ((Reuters.Briefs@thomsonreuters.com;))