Educational Development Corporation filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 17, 2025 (
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On April 16, 2025, Educational Development Corporation (the “Company”) executed the Eighth Amendment (“Amendment”) to the Existing Credit Agreement (“Amendment”) with BOKF, NA (the “Lender”). The Amendment, effective April 4, 2025, extends the maturity date of the Revolving Loan to July 11, 2025 and includes a required step downs on the Revolving Loan to $4.5 million by May 31, 2025. The Amendment also extends the maturity dates of the two term loans to September 19, 2025.
The foregoing description of the Amendment is not complete and is qualified in all respects subject to the actual provisions of the Amendment, a copy of which have been filed as Exhibits 10.01, and is incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) EXHIBITS
| Exhibit Number |
Description | |
| 10.01 | Eighth Amendment to Credit Agreement executed April 16, 2025 by and between the Company and BOKF, NA, Tulsa, OK | |
| 99.1 | Press Release dated April 17, 2025 | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
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SIGNATURE
Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Educational Development Corporation | ||
| By: | /s/ Craig M. White | |
| Craig M. White | ||
| President and Chief Executive Officer | ||
| Date: | April 17, 2025 | |
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