AMERICAN SHARED HOSPITAL SERVICES - 8-K Filing
American Shared Hospital Services received a notice from Fifth Third Bank asserting multiple defaults under its credit agreement as of September 30, December 31, and March 31, 2025-26. The bank cited failures to maintain $5 million in unrestricted cash, meet financial covenants (Fixed Charge Coverage Ratio and Total Funded Debt Ratio), deliver a compliance certificate on time, and repay term loans by April 9, 2026. As of May 29, 2026, the bank increased interest rates to a default rate adding two percent per annum but has not yet accelerated repayment obligations. (Items: 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement)
Tickers: $AMS