Item 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On June 30, 2026, Integrated BioPharma, Inc. (the "Company") and Manhattan Drug Company, Inc., a wholly owned subsidiary of the Company (collectively, the "Borrower"), entered into an Amendment to Loan Documents (the "First Amendment") with PNC Bank, National Association (the "Bank") amending certain loan documents related to the Loan Agreement entered into with the Bank dated as of April 15, 2025. The First Amendment extends the expiration date of the existing committed revolving line of credit to April 14, 2027. The revolving line of credit continues to provide for advances in an aggregate principal amount outstanding at any time not to exceed $4,000,000.00. The Borrower also entered into a Convertible Line of Credit Note (Daily SOFR) payable to the order of the Bank in an amount in the aggregate at any time outstanding not to exceed $250,000.00 (the "Convertible ELOC"). Advances under the Convertible ELOC will be used for the purchase of equipment and/or vehicles.
Prior to the conversion date under the Convertible ELOC (the "Conversion Date"), amounts outstanding under the Convertible ELOC will bear interest at a rate per annum (the "Daily Rate") equal to the sum of (i) daily one-month SOFR plus (ii) 250 basis points (2.50%), and from and after the Conversion Date, amounts outstanding under the Convertible ELOC will bear interest for the remaining term at either (i) a rate per annum equal to the Daily Rate or (ii) a fixed rate of interest per annum as offered to the Borrower by the Bank in its sole discretion and agreed upon in writing between the Borrower and the Bank.