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Integrated BioPharma (INBP) extends $4M credit line and adds $250k ELOC

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Integrated BioPharma, Inc. amended its loan agreement with PNC Bank, extending its existing committed revolving line of credit, which allows borrowings up to $4,000,000, to April 14, 2027. The company and its subsidiary also entered into a new $250,000 Convertible Line of Credit Note for equipment and vehicle purchases.

Before conversion, the new equipment line bears interest at a Daily Rate equal to one-month SOFR plus 250 basis points. The amendment also terminates a prior Convertible Equipment Line of Credit Note with a maximum amount of $500,000 that had matured and is no longer in effect.

Positive

  • None.

Negative

  • None.
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 1.02 Termination of a Material Definitive Agreement Business
A significant contract was terminated, which may affect business operations or revenue.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revolving line of credit limit $4,000,000 Maximum aggregate principal amount outstanding at any time
Revolving line expiration April 14, 2027 New expiration date for existing committed revolving line
New Convertible ELOC limit $250,000 Maximum amount outstanding at any time under new equipment line
Interest spread over SOFR 2.50% Daily Rate equals one-month SOFR plus 250 basis points before conversion
Terminated equipment LOC $500,000 Maximum amount under prior Convertible Equipment Line of Credit Note
Original loan agreement date April 15, 2025 Date of initial Loan Agreement and prior equipment line note
Amendment date June 30, 2026 Date of First Amendment and new Convertible ELOC note
Amendment to Loan Documents financial
"entered into an Amendment to Loan Documents (the "First Amendment") with PNC Bank"
Convertible Line of Credit Note financial
"entered into a Convertible Line of Credit Note (Daily SOFR) payable to the order of the Bank"
Daily SOFR financial
"Convertible Line of Credit Note (Daily SOFR) dated June 30, 2026"
Daily SOFR is the overnight interest rate for loans secured by U.S. Treasury securities, published each business day as the actual cost of borrowing cash with high-quality collateral. Investors use it as a low-risk benchmark for pricing short-term loans, floating-rate bonds, derivatives and corporate financing; like the headline gas price for borrowing cash, small daily moves can change interest costs, hedging decisions and the valuation of interest-sensitive assets.
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.
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Understanding 8-K Material Events →
false 0001016504 0001016504 2026-06-30 2026-06-30
 
 
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):
 
 
 
June 30, 2026
 
________________
 
INTEGRATED BIOPHARMA, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
 
 
Delaware
(STATE OR OTHER JURISDICTION OF INCORPORATION)
 
 
 
001-31668
22-2407475
(COMMISSION FILE NUMBER)
(I.R.S. EMPLOYER IDENTIFICATION NO.)
 
 
225 Long Avenue
Hillside, New Jersey 07205
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
 
(973) 926-0816
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
 
 
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 (see General Instruction A.2. below):
 
 
 
 
☐
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 Exchange Act:
 
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
None
None
None
 
 
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.  ☐
 
 
 
Table of Contents
 
Item 1.01  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
 
On June 30, 2026, Integrated BioPharma, Inc. (the "Company") and Manhattan Drug Company, Inc., a wholly owned subsidiary of the Company (collectively, the "Borrower"), entered into an Amendment to Loan Documents (the "First Amendment") with PNC Bank, National Association (the "Bank") amending certain loan documents related to the Loan Agreement entered into with the Bank dated as of April 15, 2025.  The First Amendment extends the expiration date of the existing committed revolving line of credit to April 14, 2027.  The revolving line of credit continues to provide for advances in an aggregate principal amount outstanding at any time not to exceed $4,000,000.00.  The Borrower also entered into a Convertible Line of Credit Note (Daily SOFR) payable to the order of the Bank in an amount in the aggregate at any time outstanding not to exceed $250,000.00 (the "Convertible ELOC").  Advances under the Convertible ELOC will be used for the purchase of equipment and/or vehicles. 
 
Prior to the conversion date under the Convertible ELOC (the “Conversion Date”), amounts outstanding under the Convertible ELOC will bear interest at a rate per annum (the “Daily Rate”) equal to the sum of (i) daily one-month SOFR plus (ii) 250 basis points (2.50%), and from and after the Conversion Date, amounts outstanding under the Convertible ELOC will bear interest for the remaining term at either (i) a rate per annum equal to the Daily Rate or (ii) a fixed rate of interest per annum as offered to the Borrower by the Bank in its sole discretion and agreed upon in writing between the Borrower and the Bank.
 
Item 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.
 
The First Amendment described in Item 1.01 terminated the Convertible Equipment Line of Credit Note (Daily SOFR), dated as of April 15, 2025, by the Borrower and payable to the order of the Bank in the amount not to exceed $500,000.00, which has matured, is of no further force or effect and has been replaced by the Convertible ELOC.
 
 
ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS
 
(d)           Exhibits.
 
 
10.1   Amendment to Loan Documents dated as of April 15, 2025 by and between Integrated BioPharma, Inc. and Manhattan Drug Company, Inc. and PNC Bank, National Association
10.2   Convertible Line of Credit Note (Daily SOFR) dated June 30, 2026 by Integrated BioPharma, Inc. and Manhattan Drug Company, Inc. and payable to the order of PNC Bank, National Association
104
  
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
 
 
 
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Table of Contents
 
EXHIBIT INDEX
 
 
 
     
Exhibit
  
Description
   
10.1   Amendment to Loan Documents dated as of April 15, 2025 by and between Integrated BioPharma, Inc. and Manhattan Drug Company, Inc. and PNC Bank, National Association
10.2   Convertible Line of Credit Note (Daily SOFR) dated June 30, 2026 by Integrated BioPharma, Inc. and Manhattan Drug Company, Inc. and payable to PNC Bank, National Association
104
  
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Table of Contents
 
SIGNATURE
 
 
 
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.
 
 
 
 
INTEGRATED BIOPHARMA, INC.
   
Date: July 2, 2026
By:     /s/ Dina L Masi
 
          Dina L Masi
 
          Chief Financial Officer
 
 
 
 
 
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Table of Contents
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Source: View Original Filing on SEC EDGAR

FAQ

What loan agreement change did Integrated BioPharma (INBP) disclose?

Integrated BioPharma disclosed an amendment to its loan agreement with PNC Bank. The change extends its committed revolving line of credit, allowing borrowings up to $4,000,000, and updates related credit arrangements with its subsidiary Manhattan Drug Company.

How much is Integrated BioPharma’s extended revolving line of credit with PNC Bank?

The revolving line of credit allows Integrated BioPharma to borrow up to $4,000,000 at any time. The amendment extends the expiration date of this existing committed facility to April 14, 2027, maintaining the same maximum aggregate principal amount outstanding.

What is the new Convertible Line of Credit Note obtained by Integrated BioPharma (INBP)?

Integrated BioPharma and its subsidiary entered into a $250,000 Convertible Line of Credit Note with PNC Bank. This "Convertible ELOC" is intended to finance equipment and vehicle purchases, with amounts outstanding bearing interest based on a Daily Rate tied to one-month SOFR plus 2.50% before conversion.

What interest rate applies to Integrated BioPharma’s new Convertible ELOC?

Before the conversion date, amounts outstanding under the Convertible ELOC bear interest at a Daily Rate equal to daily one-month SOFR plus 250 basis points. After conversion, the rate is either the same Daily Rate or a fixed rate offered by PNC Bank and agreed in writing.

Which prior credit facility did Integrated BioPharma (INBP) terminate?

The amendment terminated a prior Convertible Equipment Line of Credit Note dated April 15, 2025. That earlier facility had a maximum amount of $500,000, had matured, was of no further force or effect, and has been replaced by the new $250,000 Convertible ELOC.

When does Integrated BioPharma’s renewed revolving credit line now expire?

The amended loan documents extend the expiration date of Integrated BioPharma’s existing committed revolving line of credit with PNC Bank to April 14, 2027. This extends the availability period for borrowings up to the established $4,000,000 limit under the revolver.

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