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Creative Realities, Inc. (NASDAQ:CREX) announced Monday that it has entered into a Second Amendment to its Credit Agreement with First Merchants (NASDAQ:FRME) Bank. According to a press release statement based on a recent SEC filing, the amendment adjusts the borrowing base margin for the company’s revolving line of credit.
The borrowing base margin determines the portion of eligible contract values that can be used to secure borrowings under the credit facility, after deducting required reserves as specified in the agreement. Under the new terms, the borrowing base margin will be set at 95% from June 30, 2025 through September 29, 2025. The margin will then decrease to 90% from September 30, 2025 through October 30, 2025, and further decrease to 85% on and after October 31, 2025. With total debt of $23.94 million against annual revenue of $48.3 million, this amendment is crucial for the company’s financial flexibility.
The amendment was executed on July 24, 2025, by Creative Realities, its subsidiaries, and First Merchants Bank. The company’s common stock is listed on the Nasdaq Stock Market under the symbol CREX.
This information is based on a press release statement contained in a recent SEC filing.
In other recent news, Creative Realities, Inc. reported a decline in revenue for the first quarter of 2025, with figures falling to $9.7 million from $12.3 million in the same period the previous year. Despite the revenue drop, the company remains optimistic about strategic investments and market opportunities. Additionally, Creative Realities announced the granting of restricted stock units (RSUs) to CEO Richard Mills and Interim CFO David Ryan Mudd under its 2023 Stock Incentive Plan. These RSUs will vest in installments over the coming years, with specific conditions attached to their vesting. In another development, the company also issued stock options to Mr. Mills and Mr. Mudd, which will vest in three equal installments starting in 2026. The exercise price for these options was set at $3.05. These recent developments reflect the company’s ongoing efforts to align executive incentives with long-term strategic goals.
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