INTEGRATED BIOPHARMA INC 8-K

What Happened

• Integrated BioPharma, Inc. and its wholly owned subsidiary Manhattan Drug Company entered an Amendment to Loan Documents with PNC Bank on June 30, 2026. The amendment extends the existing committed revolving line of credit to April 14, 2027 and maintains a maximum aggregate outstanding amount of $4,000,000. The Borrower also executed a Convertible Line of Credit Note (Daily SOFR) allowing up to $250,000 in advances to be used for equipment and/or vehicle purchases.

Key Details

• Amendment date: June 30, 2026; original loan agreement dated April 15, 2025.
• Revolving line of credit: maximum aggregate outstanding at any time not to exceed $4,000,000; maturity/expiration extended to April 14, 2027.
• Convertible ELOC: maximum aggregate outstanding at any time not to exceed $250,000; advances earmarked for equipment/vehicles.
• Interest on the Convertible ELOC before the Conversion Date: daily one‑month SOFR plus 250 basis points (2.50%). After the Conversion Date, interest will be either the same Daily Rate or a fixed rate offered by the Bank and agreed in writing.

Why It Matters

• Liquidity and capital access: the amendment preserves the company’s access to up to $4.0M of revolving credit through April 2027 and adds up to $250k for capital expenditures, supporting operations and equipment/vehicle purchases without immediate cash outlay.
• Cost of borrowing and cash flow: interest on the new ELOC is tied to one‑month SOFR plus 2.50% before conversion, so borrowing costs will vary with SOFR and could affect future interest expense.
• Review conversion terms: the note is described as “convertible” and changes interest treatment at a Conversion Date; investors should review the full Convertible Line of Credit Note (filed as an exhibit) for any conversion mechanics or additional implications for the company’s capital structure.