Optex Systems Holdings Enters Financing for $2.1M Coating System

What Happened
On July 14, 2026, Optex Systems Holdings, Inc. and its subsidiary Optex Systems, Inc. entered a Master Equipment Finance Loan and Security Agreement with Texas Capital Bank and an Interim Funding Addendum. The bank provided a $246,783 interim loan to cover the first installment of an approximately $2.1 million high vacuum coating system purchase. The interim loan accrues interest at SOFR (or, at the borrower’s election, a base rate) plus 2.75% and must be repaid or converted into a term loan under the Master Agreement by January 10, 2027.

Key Details

• Interim loan amount: $246,783 to cover the first installment of a ~$2.1M coating system.
• Interest: Secured Overnight Financing Rate (SOFR) or base rate + 2.75%, payable monthly.
• Deadline/options: Repay or convert interim loan to a fixed or floating rate term loan on or before Jan 10, 2027.
• Covenants & protections: Master Agreement includes cross-default and cross-collateralization provisions, customary covenants and defaults, a required fixed charge coverage ratio of at least 1.25:1, a total leverage ratio of 3.00:1, and the bank may demand a prepayment indemnity. The company expects (but the bank is not obligated) to provide additional secured funding for remaining installments.

Why It Matters
This filing shows Optex is using external financing to acquire a key piece of manufacturing equipment, with near-term debt and lender covenants that could affect financial flexibility. Investors should note the interim loan amount, the conversion/repayment deadline, the interest spread, and the financial ratios required by the lender, as these terms could influence covenant compliance and future financing needs.