American Shared Hospital Services (AMS) has released an update to notify the public and investors about an entry into a material definitive agreement.
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On January 25, 2024, American Shared Hospital Services and its domestic subsidiaries amended their Credit Agreement with Fifth Third Bank, adding a new $2.7 million term loan for capital expenditures in Puebla, Mexico, with a maturity date of January 25, 2030. The loan, secured by the Company’s assets, introduces SOFR-based interest rates and modifies reporting requirements and financial covenants, specifically regarding the treatment of the Company’s foreign subsidiaries in financial calculations.
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For a comprehensive understanding of the announcement, you can read the full document here.