ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On November 19, 2021, Educational Development Corporation executed the Fourth Amendment to Amended and Restated Loan Agreement (the "Amendment") with MidFirst Bank (the "Lender") related to the Amended and Restated Loan Agreement dated as of February 15, 2021 (the "Loan Agreement"). The Amendment modifies the Loan Agreement, establishing Term Loan #2 in the principal amount of $10,000,000, amends the definition of LIBO Rate and LIBOR Margin and adds Benchmark Replacement Provisions.

The foregoing description of the Amendment is not complete and is qualified in all respects subject to the actual provisions of the amendment, a copy of which has been filed as Exhibit 10.01 and is incorporated by reference herein.




ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS



(d)     EXHIBITS



Exhibit

Number Description

10.01 Fourth Amendment to Amended and Restated Loan Agreement

99.1 Press Release dated November 24, 2021

104 Cover Page Interactive Data File (formatted as Inline XBRL)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses