Item 1.01. Entry into a Material Definitive Agreement.
Amendment to Credit Agreement
On September 22, 2025, Broadwind, Inc. and its subsidiaries (the "Company") entered into Amendment No. 3 to Credit Agreement (the "Third Amendment") to the Credit Agreement dated as of August 4, 2022, by and among the Company and Wells Fargo Bank, National Association (as amended by that certain Amendment No. 1 to Credit Agreement and Limited Waiver dated February 8, 2023 and by that certain Amendment No. 2 to Credit Agreement dated as of December 19, 2024, the "Credit Agreement"). The Third Amendment was entered into after the Company made a Mandatory Prepayment of Obligations owed under the Term Loan in the amount of $1,599,586.95 on September 8, 2025 in accordance with Section 2.4(d) of the Credit Agreement. The prepayment was required as a result of the sale by the Company's wholly-owned subsidiary, Broadwind Heavy Fabrications, Inc., of certain assets in Manitowoc, Wisconsin as previously disclosed by the Company in its Form 8-K filed with the Securities and Exchange Commission on September 10, 2025.
The Third Amendment reduced the monthly principal repayment amount payable by the Company from $90,214.29 for each monthly period from January 1, 2025 through and including September 1, 2025 to $61,505.77 for each monthly period after October 1, 2025 with the last installment being in the amount of the entire unpaid balance of the Term Loan.
The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the document, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference into this Item 2.03.