Cumberland Pharmaceuticals Inc 8-K, filed Jan 3, 2022
Cumberland Pharmaceuticals Inc (CPIX)
8-K
2022-01-03
For: 2021-12-31
View Original
Added on
April 06, 2026
About this 8-K
Cumberland Pharmaceuticals Inc filed this 8-K on January 3, 2022, reporting on events of December 31, 2021.
Items reported
- Item 1.01: Entered into a material agreement
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||
(Address of Principal Executive Offices)
(615 ) 255-0068
Registrant's telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement.
On December 31, 2021, Cumberland Pharmaceuticals Inc. (the “Company” or “Cumberland”) entered into an amendment to expand the capital available on its bank line of credit to $20 million. The Company has previously used proceeds from the line to fund acquisitions, working capital and general corporate purposes.
The Amendment was to the Company’s Revolving Credit Loan Agreement with Pinnacle Bank and increased the principal available to $20 million. As of December 31, 2021, the interest rate for funds drawn on the facility is 1.85% - 2.60% depending on the funded debt to EBITDA ratio. Borrowings under the line of credit are collateralized by the Company’s assets.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Cumberland Pharmaceuticals Inc. | ||||||||||||||||||||
| Dated: December 31, 2021 | By: | /s/ John Hamm | ||||||||||||||||||
| John Hamm | ||||||||||||||||||||
| Chief Financial Officer | ||||||||||||||||||||