Educational Development Corporation Announces Extension of Credit Agreement with BOKF
Rhea-AI Summary
Educational Development Corporation (NASDAQ: EDUC) has secured a Ninth Amendment to its Credit Agreement with BOKF, NA, extending the Revolving Loan maturity date to September 19, 2025. The extension aligns the revolving loan maturity with the company's existing real estate term loans.
CEO Craig White indicated that the company is exploring multiple solutions to pay off the line of credit, including potential sale or refinancing of the Hilti Complex. The company continues to make scheduled principal and interest payments on both Revolving and Term Loans.
Positive
- Regular payments being made on principal and interest for both Revolving and Term Loans
- Extension of credit agreement maturity date to September 19, 2025
- Multiple financing options being explored including sale/refinancing of Hilti Complex
Negative
- Company needs to refinance or find alternative funding sources for credit line repayment
- Potential need to sell real estate assets to manage debt obligations
News Market Reaction – EDUC
On the day this news was published, EDUC gained 0.88%, reflecting a mild positive market reaction. Argus tracked a peak move of +14.7% during that session. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $82K to the company's valuation, bringing the market cap to $9M at that time.
Data tracked by StockTitan Argus on the day of publication.
Tulsa, Oklahoma--(Newsfile Corp. - August 12, 2025) - Educational Development Corporation (NASDAQ: EDUC) (the "Company") announced it has executed the Ninth Amendment ("Amendment") to the Existing Credit Agreement ("Amendment") with BOKF, NA (the "Lender"). The Amendment, effective July 11, 2025, extends the maturity date on the Revolving Loan to September 19, 2025.
Per Craig White, Chief Executive Officer, "Extending the maturity date on the revolving line of credit to September 19, 2025 is part of the ongoing process with our credit agreement. This maturity date now coincides with the maturity dates on our term loans associated with our real estate."
"We continue to work through multiple solutions to pay off our line of credit through other financing sources including the option to take the term loans through the sale or refinancing transaction of the Hilti Complex. Each month we continue to make our principal and interest payments on the Revolving Loan and Term Loans as scheduled. We are grateful for our banks dedication to working with us, and the patience they have demonstrated, as our interests remain directly aligned."
About Educational Development Corporation (EDC)
EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books ("Kane Miller"); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited ("Usborne") children's books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.
Contact:
Educational Development Corporation
Craig White, (918) 622-4522
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262246
FAQ
What is the new maturity date for EDUC's revolving loan with BOKF?
How is Educational Development Corporation (EDUC) planning to pay off its line of credit?
Is Educational Development Corporation (EDUC) current on its loan payments?
What changes were made in EDUC's Ninth Amendment to the Credit Agreement?
