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AI brief of an SEC Form 8-K · OPTICAL CABLE CORP (OCC)

Optical Cable Corp. repays Northeast Bank loan with new $2.65 million credit union loan

Neutral Impact 3 of 5 financing Written later

Optical Cable Corporation entered a $2,650,000 business loan with Freedom First Federal Credit Union on April 30, 2026, and used it to pay off its existing Virginia real estate loan with Northeast Bank. The new loan matures May 1, 2036, is secured by a deed of trust on real property in Roanoke County, Virginia, and carries a 6.5% fixed rate for the first five years. The filing does not state how the company will use the proceeds beyond the payoff, so shareholders will mainly see a change in the terms and lender of the company's debt.

Key points

  • Principal of $2,650,000.00 under a promissory note dated April 30, 2026, maturing May 1, 2036
  • Fixed 6.5% rate for years 1 to 5, with monthly payments of $19,912.69 beginning June 1, 2026
  • After the fixed period, the rate moves to a U.S. Treasury index plus 2.5 percentage points, with a floor of 4.5%
  • Northeast Bank Virginia Real Estate Loan, maturing May 5, 2026, paid in full at closing

The filing

CompanyOPTICAL CABLE CORP (OCC)
Form8-K, current report
Filed with the SECMay 6, 2026, 4:16 PM ET
Accession number0001437749-26-015207

Items reported: 1.01 Material Definitive Agreement1.02 Termination of Material Agreement

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.