Optex Systems Holdings established a master equipment finance loan and security agreement with Texas Capital Bank to support the approximately $2.1 million purchase of a high vacuum coating system, and drew a $246,783 first interim loan under a related addendum. The master facility includes cross-default and cross-collateralization provisions and requires fixed charge coverage of at least 1.25:1 and total leverage of 3.00:1. The interim loan is secured by the system, bears monthly interest at SOFR plus 2.75% (or a base rate plus 2.75%), and must be repaid or converted into a term loan by Jan 10, 2027. The company expects to finance remaining installments under the master agreement, though the bank is not obligated to provide further funding.
Agreement 1: Optex Systems Holdings Sets Up Equipment Finance Facility With Texas Capital Bank for $2.1M System
- Agreement type: Master equipment finance loan and security agreement
- Counterparty: Texas Capital Bank
- Signed / Effective: Jul 14 2026 / same
- Duration / Termination: At will
- Reason: Finance purchase of high vacuum coating system
Agreement 2: Optex Systems Holdings Draws $246,783 Interim Loan Under Texas Capital Master Agreement
- Agreement type: Interim funding addendum and first interim loan
- Counterparty: Texas Capital Bank
- Signed / Effective: Jul 14 2026 / same
- Duration / Termination: Until Jan 10 2027 unless converted
- Reason: Fund first installment for $2.1 million coating system
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.