Graham Corporation (NYSE:GHM) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On August 13, 2020, Graham Corporation (the Company) entered into an amendment (the Amendment) to its letter agreement with HSBC Bank USA, N.A. (HSBC), dated May 1, 2020 (the Letter Agreement). to the Amendment, borrowings and other extensions of credit under the facility will be cash collateralized. The Companys obligations under the Letter Agreement are secured by certain of the Companys deposit accounts with HSBC and is evidenced by a pledge agreement between the Company and HSBC (the Pledge Agreement).
The foregoing summaries of the Amendment and the Pledge Agreement do not purport to be complete, and are qualified in their entirety by reference to the Amendment and the Pledge Agreement, copies of which the Company intends to file as exhibits to its next Quarterly Report on Form 10-Q.
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 in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.