Clearfield extends bank credit line maturity
Clearfield, Inc. entered into Amendment No. 4 to its Loan Agreement with Old National Bank, successor by merger to Bremer Bank, National Association.
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Form Type
8-K
Rhea-AI Filing Summary
Clearfield, Inc. entered into Amendment No. 4 to its Loan Agreement with Old National Bank, successor by merger to Bremer Bank, National Association. The amendment extends the maturity date of the line of credit from July 24, 2026 to November 21, 2026.
The amendment includes customary representations and warranties applicable to Clearfield, while all other material terms of the existing Loan Agreement dated April 27, 2022 remain unchanged.
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8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
New line of credit maturity date: November 21, 2026
Prior line of credit maturity date: July 24, 2026
Original Loan Agreement date: April 27, 2022
+1 more
4 metrics
New line of credit maturity date
November 21, 2026
Maturity of the line of credit under the amended Loan Agreement
Prior line of credit maturity date
July 24, 2026
Original maturity before Amendment No. 4
Original Loan Agreement date
April 27, 2022
Date of the Loan Agreement that is being amended
Trading symbol
CLFD
Common Stock, $0.01 par value, listed on The Nasdaq Stock Market
Key Terms
Amendment No. 4 to Loan Agreement, line of credit, maturity, representations and warranties
4 terms
Amendment No. 4 to Loan Agreement financial
"entered into an Amendment No. 4 to Loan Agreement that amends its Loan Agreement"
line of credit financial
"extends the maturity of the line of credit provided under the Agreement"
A line of credit is a flexible borrowing arrangement that lets a company draw money up to a preset limit, repay it, and borrow again as needed—similar to a business credit card or an emergency tap on a savings account. It matters to investors because it shows how a firm manages short-term cash needs and growth funding without taking a single large loan; access, cost, and attached conditions can affect liquidity, interest expenses and financial risk.
maturity financial
"extends the maturity of the line of credit from July 24, 2026 to November 21, 2026"
Maturity is the date when a loan, bond, deposit or other financial contract must be repaid or settles, like an expiration date on a coupon or loan. It matters to investors because it determines when they will get their principal back, how much interest they will have earned, and how exposed their money is to interest-rate or reinvestment risk—similar to knowing when a timed savings jar will be opened and what you can do next.
representations and warranties financial
"The Amendment also contains customary representations and warranties applicable to the Company"
Representations and warranties are statements one party makes to another in a legal agreement about facts or conditions that are true at signing or will be true in the future, like ownership, financial statements, or regulatory compliance. They matter to investors because they set the factual baseline for a deal—like guarantees in a car sale—and create legal remedies or payment adjustments if those statements turn out to be false, affecting value and risk.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Clearfield (CLFD) change in its loan agreement on July 24, 2026?
Clearfield entered into Amendment No. 4 to its Loan Agreement with Old National Bank, extending the maturity of its line of credit from July 24, 2026 to November 21, 2026, with all other material terms unchanged.
Who is Clearfield’s (CLFD) lending bank under the amended loan agreement?
The lending bank is Old National Bank, which is the successor by merger to Bremer Bank, National Association. The amendment relates to Clearfield’s existing Loan Agreement originally dated April 27, 2022.
What is the new maturity date of Clearfield’s (CLFD) line of credit?
The maturity of Clearfield’s line of credit has been extended to November 21, 2026. Previously, the maturity date was July 24, 2026, and the extension applies under Amendment No. 4 to the Loan Agreement.
Did Clearfield (CLFD) change any other material terms of its loan agreement?
Clearfield stated that all other material terms of the Loan Agreement remain unchanged. The amendment primarily affects the maturity date and adds customary representations and warranties applicable to the company.
What are the key features of Amendment No. 4 for Clearfield (CLFD)?
Amendment No. 4 extends the line of credit maturity to November 21, 2026 and includes customary representations and warranties for Clearfield. The underlying Loan Agreement’s other material terms continue as previously agreed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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