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Streamline Health Solutions Inc. (NASDAQ:STRM), a provider of integrated systems design services with a market capitalization of $12.52 million, has entered into an agreement modifying its financial covenants with Western Alliance (NYSE:WAL) Bank. The amendment, known as the Sixth Modification to the Loan and Security Agreement, was executed on March 27, 2025, and includes updated covenants related to net leverage ratios, debt to adjusted EBITDA ratios, fixed charge coverage ratios, and minimum adjusted EBITDA thresholds. InvestingPro data reveals the company operates with a significant debt burden of $12.26 million and a concerning current ratio of 0.46.
The revised financial covenants are part of the company’s ongoing efforts to maintain compliance with its borrowing requirements, particularly crucial given its negative EBITDA of -$6.02 million and revenue decline of 22.49% over the last twelve months. As per the agreement, Streamline Health will also incur fees payable to Western Alliance Bank upon repayment of obligations. These fees are due on the earlier of August 26, 2026, or the date when Streamline Health fully repays its obligations under the Loan and Security Agreement. For deeper insights into the company’s financial health and detailed analysis, investors can access comprehensive Pro Research Reports through InvestingPro.
This development is significant for Streamline Health as it reflects adjustments to the company’s financial management strategy in relation to its existing debt. The specifics of the Sixth Modification have been detailed in an exhibit attached to the company’s recent SEC filing, providing transparency for stakeholders and investors interested in the company’s financial arrangements.
The information is based on a recent SEC filing made by Streamline Health Solutions, Inc., which provides a detailed account of the company’s new financial commitments and obligations. The filing ensures that the company’s financial dealings are disclosed in accordance with regulatory requirements, offering a clear view of its contractual relationships and financial health.
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