Bridgewater Bancshares Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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Item 1.01 Entry into a Material Definitive Agreement.
On September 1, 2024, Bridgewater Bancshares, Inc. (the “Company”) entered into a Third Amendment to Loan and Security Agreement (the “Amendment”) and related amended and restated revolving note (the “Revolving Note”) with ServisFirst Bank (the “Lender”). The Amendment, which amends the Loan and Security Agreement between the Company and the Lender, dated March 1, 2021, extended the maturity date of the Company’s existing revolving line of credit with a $40.0 million borrowing limit (the “Line of Credit”) from September 1, 2024 to September 1, 2026.
The Line of Credit provides for a variable interest rate equal to the greater of the Wall Street Journal Prime Rate in effect or a floor rate. The Amendment also increased the floor rate from 3.85% to 4.50%.
The foregoing descriptions of the Amendment and the Revolving Note do not purport to be complete, and are qualified in their entirety by reference to the full text of the Amendment and the Revolving Note which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K 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 in this Item 2.03 in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 10.1 |
Exhibit 10.2 |
Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Bridgewater Bancshares, Inc. | |
Date: September 6, 2024 | |
By: /s/ Jerry Baack | |
Name: Jerry Baack | |
Title: Chairman and Chief Executive Officer |
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