Financing ·
American Shared Hospital Services entered into a Third Amendment to its Credit Agreement and Forbearance Agreement…
AMSAmerican Shared Hospital Services
American Shared Hospital Services entered into a Third Amendment to its Credit Agreement and Forbearance Agreement with Fifth Third Bank on July 22, 2026, addressing prior Events of Default. The lender agreed to forbear from exercising remedies until June 30, 2027, during which time minimum cash and coverage covenants are suspended. The amendment imposes strict restrictions, including a prohibition on new revolving advances, limits on bank account balances, and mandatory monthly prepayments of excess cash flow exceeding $5,000,000. The company must make quarterly principal payments of $125,000 on the Term Loan and $75,000 on the Delayed Draw Term Loan starting October 10, 2026. Concurrently, the company issued a $2,000,000 promissory note to RCS/TIG Holdings LLC, owned by Executive Chairman Raymond Stachowiak, bearing 10% interest and secured by a subordinated lien on assets. The company also issued warrants to purchase 220,000 shares at $1.45 per share. American Shared Hospital Services provides radiology and medical imaging services to hospitals.