Heritage Global inks $10M credit line to 2028

Heritage Global Inc. (HGBL) entered into a new secured credit facility with C3bank, National Association, providing a $10.0 million revolving line of credit to be used solely for its business operations.

Rhea-AI Filing Summary

Heritage Global Inc. (HGBL) entered into a new secured credit facility with C3bank, National Association, providing a $10.0 million revolving line of credit to be used solely for its business operations. The facility matures on January 16, 2028 and carries a variable interest rate based on The Wall Street Journal prime rate plus a 1.00% margin, with a minimum rate of 7.500% per annum.

The company must pay an annual unused line fee, calculated on undrawn availability and paid quarterly in arrears beginning September 16, 2026. The facility is secured by a security interest in certain current and future tangible and intangible assets of the company and certain subsidiaries, and by a pledge of the equity of its direct and indirect subsidiaries. It includes customary financial, affirmative and negative covenants, including limits on additional indebtedness and on selling, pledging or encumbering assets, as well as representations and default provisions tied to financial condition, insolvency and guarantees.

Positive

• $10.0 million revolving line of credit enhances liquidity available for business operations through January 16, 2028.
• Facility terms allow proceeds to be used solely for business operations, supporting ongoing corporate activities rather than restricted purposes.

Negative

• The New Credit Facility is secured by assets and subsidiary equity, increasing encumbrances on the company’s collateral base.
• Customary financial and negative covenants, including restrictions on additional indebtedness and asset dispositions, may limit financing and strategic flexibility.

Filing Explained

The facility creates a direct financial obligation, while additional borrowing remains conditioned on representations, covenants, and other default-related requirements.

On September 16, 2026, Heritage Global entered a new credit facility that the filing reports as creating a direct financial obligation. It establishes a $10.0 million revolving line for business operations, while additional draws are conditioned on specified representations, warranties, and covenant compliance.

The facility is secured by listed company and subsidiary assets and pledges of subsidiary equity. The agreements governing it are scheduled to be filed as exhibits to the company’s Form 10-Q for the quarter ending September 30, 2026, providing the next detailed source for the facility’s terms.

8-K Event Classification

2 items: 1.01, 2.03

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 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Key Figures

Revolving line of credit: $10.0 million Interest margin: Prime rate + 1.00% Interest rate floor: 7.500% per annum +2 more

5 metrics

Revolving line of credit $10.0 million Maximum borrowing capacity under the New Credit Facility

Interest margin Prime rate + 1.00% Variable rate spread over The Wall Street Journal prime rate

Interest rate floor 7.500% per annum Minimum interest rate on the New Credit Facility

Maturity date January 16, 2028 Date when the New Credit Facility matures

Unused line fee start date September 16, 2026 Commencement of annual unused line fee, payable quarterly

Key Terms

revolving line of credit, unused line fee, security interest, negative covenants, +1 more

5 terms

revolving line of credit financial

"The New Credit Facility provides for a $10.0 million revolving line of credit."

A revolving line of credit is a flexible borrowing arrangement that allows a person or business to access funds up to a set limit whenever needed, much like a prepaid card. As money is repaid, it becomes available to borrow again, making it a convenient way to manage cash flow or cover ongoing expenses. Investors pay attention to it because it reflects a company’s ability to access quick funds and manage financial flexibility.

unused line fee financial

"the Company shall pay the Lender an annual unused line fee, payable quarterly"

A fee a lender charges on the portion of a loan or credit line a borrower has reserved but not used, similar to paying a small charge to hold a hotel room or keep a credit card limit open. It matters to investors because it raises a borrower’s ongoing financing cost even when cash isn’t drawn, reducing net cash available and affecting profit margins, liquidity planning and the attractiveness of debt arrangements.

security interest financial

"The New Credit Facility is secured by a security interest in certain of the Company’s"

A security interest is a legal claim a lender or creditor holds on a borrower's asset as collateral to secure repayment; if the borrower fails to pay, the creditor can seize or sell that asset to recover money owed. Think of it like a pawnshop tag on an item that gives the pawnbroker the right to sell it if the loan isn't repaid. For investors, security interests matter because they change how safely lenders and bondholders can recover funds and affect the hierarchy of claims if a company faces financial trouble.

negative covenants financial

"The New Credit Facility contains certain customary financial covenants and negative covenants"

material definitive agreement regulatory

"Item 1.01 Entry into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new credit facility did Heritage Global Inc. (HGBL) enter into?

Heritage Global Inc. entered into a $10.0 million revolving line of credit with C3bank, National Association. It is a secured New Credit Facility available solely for the company’s business operations, with customary covenants and collateral requirements.

What are the interest terms on Heritage Global (HGBL)’s new credit line?

The New Credit Facility bears a variable rate based on the prime rate plus 1.00%, with the rate not less than 7.500% per annum, as quoted by The Wall Street Journal.

When does Heritage Global (HGBL)’s new credit facility mature?

The New Credit Facility has a maturity date of January 16, 2028. The revolving line remains available, subject to conditions and covenants, until that Maturity Date.

What fees must Heritage Global (HGBL) pay on the unused portion of the facility?

Heritage Global must pay an annual unused line fee on the New Credit Facility, payable quarterly every three months in arrears beginning September 16, 2026 and continuing through the maturity date.

How is Heritage Global’s (HGBL) new credit facility secured?

The New Credit Facility is secured by a security interest in certain current and future assets of the company and certain subsidiaries, including inventory, accounts, equipment and general intangibles, plus a pledge of the equity of its direct and indirect subsidiaries.

What covenants are included in Heritage Global (HGBL)’s New Credit Facility?

The agreement includes customary financial, affirmative and negative covenants, such as maintaining records and insurance, complying with governmental requirements, meeting several financial covenants, and restricting additional indebtedness and the sale, pledge or encumbrance of assets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/22/2026 - 04:00 PM Accepted by SEC EDGAR 09/22/2026 - 04:00 PM Learn about SEC filing dates

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 16, 2026

Heritage Global Inc.

(Exact name of Registrant as Specified in Its Charter)

Florida			001-39471	59-2291344
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
6130 Nancy Ridge Drive
San Diego, California				92121
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (858) 847-0656

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 Par Value		HGBL		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On September 16, 2026, Heritage Global Inc. (the “Company”) entered into a promissory note, a business loan agreement and commercial security agreement (collectively, the “New Credit Facility”) with C3bank, National Association (the “Lender”). The New Credit Facility provides for a $10.0 million revolving line of credit. The Company is permitted to use the proceeds of the New Credit Facility solely for its business operations.

The maturity date of the New Credit Facility is January 16, 2028 (the “Maturity Date”). The New Credit Facility sets the interest rate spread and interest rate floor to accrue at a variable interest rate, which is based on the rate of interest last quoted by The Wall Street Journal as the “prime rate,” plus a margin of 1.00% (such rate not to be less than 7.500% per annum). Additionally, the New Credit Facility includes a loan covenant to provide that the Company shall pay the Lender an annual unused line fee, payable quarterly every three (3) months in arrears within ten (10) days thereof, commencing on September 16, 2026, and continuing through the Maturity Date.

The Company is the borrower under the New Credit Facility. The New Credit Facility is secured by a security interest in certain of the Company’s and its certain subsidiaries’ current and future tangible and intangible assets, inventory, chattel paper, accounts, equipment and general intangibles and a pledge of the equity of the direct and indirect subsidiaries of the Company.

The availability of additional draws under the New Credit Facility is conditioned, among other things, on the compliance with certain customary representations and warranties, including default, insolvency or bankruptcy, material adverse change in financial condition and any guarantor’s attempt to revise its guarantee. The agreement governing the New Credit Facility also contains customary affirmative covenants regarding, among other things, the maintenance of records, maintenance of certain insurance coverage, compliance with governmental requirements and maintenance of several financial covenants. The New Credit Facility contains certain customary financial covenants and negative covenants that, among other things, include restrictions on the Company’s ability to create, incur or assume indebtedness for borrowed money, including capital leases or to sell, transfer, mortgage, assign, pledge, lease, grant a security interest in, or encumber any of the Company’s assets.

Copies of the agreements governing the New Credit Facility will be filed as Exhibits to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2026.

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 above in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

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 hereunto duly authorized.

			HERITAGE GLOBAL INC.
Date:	September 22, 2026	By:	/s/ Ross Dove
			Ross Dove Chief Executive Officer