M-tron Industries, Inc. 8-K

What Happened

• M-tron Industries, Inc. (with Piezo Technology, Inc.) announced an amended and restated credit agreement with Fifth Third Bank dated December 31, 2025, creating a combined Facility of $20 million: a $10 million revolving credit line and a $10 million delayed-draw term loan.
• The Revolving Facility is for working capital and general corporate purposes and matures December 31, 2028 (36 months). The Delayed Draw Term Loan is intended for acquisitions; advances are available for 36 months with commitments terminating December 31, 2028 and each advance maturing 36 months after it is made.

Key Details

• Total facility size: $20 million (Revolver $10M; Delayed Draw Term Loan $10M).
• Interest: SOFR + applicable margin (pricing grid 2.00%–3.00%), SOFR floor 0.00%; interest paid monthly in arrears; principal due at maturity.
• Fees & amortization: unused facility fee 0.20%–0.30% (pricing grid); delayed-draw amortization of 1.50% per quarter for first four quarters, then 1.875% per quarter thereafter.
• Security & guarantee: guaranteed by M-tron Asia, LLC and secured by a first-priority lien on substantially all of the borrowers’ personal property.
• Pricing and certain fees may vary quarterly based on a leverage ratio; the Credit Agreement contains customary covenants, representations and events of default.

Why It Matters

• The Facility gives M-tron additional liquidity and flexibility for operations and potential acquisitions, which can support growth plans and short-term funding needs.
• Because the loans are secured and include customary covenants, the agreement introduces contractual limits and repayment obligations that investors should monitor (e.g., leverage-based pricing, collateral lien, and covenant compliance).
• The full amended and restated Credit Agreement is filed as Exhibit 10.1 to the 8‑K for anyone wanting the complete terms.