Cyanotech Corporation Enters into A Second Amendment to the Amended and Restated Promissory Note with Skywords Family Foundation, Inc

On August 14, 2023, Cyanotech Corporation (the ?Company?) entered into a Second Amendment (the ?Amendment?) to the Amended and Restated Promissory Note with Skywords Family Foundation Inc. (?Skywords?), dated as of April 12, 2021 and amended on December 14, 2022 (the ?Note?). The Amendment increases the amount that the Company may borrow from time to time under the Note from $1,000,000 to $2,000,000 on a revolving basis (the ?Revolver?). All other terms of the Note remain the same.

As of the date of the Amendment, the outstanding principal balance on the Note was $1,000,000 and the outstanding balance on the Revolver was $750,000.