TECHPRECISION CORP 8-K

What Happened TechPrecision Corporation (TPCS) reported that its wholly owned subsidiary Ranor, together with certain affiliates, entered into a Fourteenth Amendment to its Amended and Restated Loan Agreement with Beacon Bank & Trust (successor to Berkshire Bank) on May 13, 2026. The amendment extends the revolving line of credit (the “Revolver Loan”), which has a $4,500,000 maximum principal, from a prior maturity of May 15, 2026 to September 15, 2026 and adds new lender protections and borrower obligations.

Key Details

• Amendment date: May 13, 2026; new maturity date: September 15, 2026.
• Revolver maximum principal: $4,500,000.
• New covenants require the Borrowers to provide, by July 31, 2026 (or later if Beacon agrees), a term sheet for refinancing to repay outstanding obligations by Sept 15, 2026.
• If no term sheet is provided by July 31, 2026, Beacon may access the Borrowers’ locations to perform field examinations and collateral appraisals; Borrowers must also cooperate and pay for a lender-ordered appraisal of one company property.
• A $15,000 failure-to-perform fee is added if amounts remain outstanding after Sept 15, 2026; nonpayment of that fee constitutes an event of default.

Why It Matters The amendment gives the company a short extension to seek refinancing but increases lender oversight and potential costs (appraisals, inspections, and a $15,000 fee if debt remains unpaid). For investors, this signals near-term refinancing pressure and added downside if the company cannot replace or repay the credit line by the new September deadline. The full amendment text is filed as Exhibit 10.1 to the 8-K for detailed terms.