8-K - ZRCN Inc. | StockGist

AI Analysis

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ZRCN Inc. and its subsidiary Zircon Corporation entered into a Loan and Security Agreement with Altriarch Holdings SPV, LLC on March 17, 2026, providing a $12.5 million senior secured revolving credit facility to replace a $15.0 million existing loan and support working capital needs. The facility matures on March 17, 2029, with $7.5 million drawn as of the filing date, offering increased financial flexibility for growth strategies.

Key Takeaways

1Entered $12.5 million senior secured revolving credit facility on March 17, 2026 with Altriarch Holdings SPV, LLC

2Replaces $15.0 million loan with FGI Worldwide, LLC; $7.5 million drawn as of March 23, 2026

3Maturity Date March 17, 2029, extendable by one year

4Interest rate lesser of Maximum Rate or 3-month SOFR + 8.75%, payable monthly from April 14, 2026

5Option for up to $5 million Commitment Increase in two requests at Lender's discretion

6Secured by substantially all assets excluding IP; CEO John Stauss limited guarantor; four largest shareholders pledge shares

Current Report Details

Event Type

Material Agreement

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

Entry into a Material Definitive Agreement On March 17, 2026 (the “Effective Date”), ZRCN Inc., a Delaware corporation (the “Company”), and its wholly owned sub

Material Agreement

$12.5M$15.0M$5.0M

Transaction Details

Material Agreement

Agreement: Loan and Security Agreement
Parties: ZRCN Inc. (the “Company”), Zircon Corporation (“Zircon”), Altriarch Holdings SPV, LLC (“Lender”)

•Provides $12.5 million senior secured revolving credit facility
•Available for replacement of $15.0 million loan with FGI Worldwide, LLC and working capital
•Matures March 17, 2029, subject to one-year extension request
•Interest: lesser of Maximum Rate or 3-month SOFR + 8.75%
•Monthly interest payments commencing April 14, 2026
•Commitment Increase up to $5 million aggregate in max two requests, at Lender discretion
•Requires maximum tangible net worth and minimum fixed charge coverage ratios
•Standard covenants limiting debt, liens, Change of Control, investments, affiliate transactions
•Events of Default include payment defaults, covenant breaches, bankruptcy
•Prepayment Premium: 1.50% year 1, 1% year 2, 0.5% year 3 of Maximum Amount
•$7.5 million obligation drawn as of filing date
•Secured by substantially all assets excluding IP; CEO John Stauss limited guarantor
•Shareholders (Pledgees) entered Limited Recourse Collateral Pledge Agreement
•Right of First Refusal for loans secured by IP

Exhibits (1)

8-K