Item 1.01 Entry into a Material Definitive Agreement
As previously disclosed, on August 25, 2021, Ranor, Inc. ("Ranor"), a wholly
owned subsidiary of TechPrecision Corporation (the "Company"), along with
certain affiliates of the Company, entered into that certain Amended and
Restated Loan Agreement (the "Amended and Restated Loan Agreement") with
Berkshire Bank under which, among other things, Berkshire Bank continued a term
loan made to Ranor in the original principal amount of $2,850,000 (the "Ranor
Term Loan"). Under the Amended and Restated Loan Agreement and related loan
documents, the Ranor Term Loan had a maturity date of December 20, 2021. On
December 17, 2021, Ranor and certain affiliates of the Company entered into a
First Amendment to Amended and Restated Loan Agreement and First Amendment to
Promissory Note (the "Amendment") to extend the maturity date of the Ranor Term
Loan to March 18, 2022.
Other than in respect of the Amended and Restated Loan Agreement, the promissory
notes made thereunder, the related security and guaranty documents and the
previously disclosed past borrowing relationship, there is no material
relationship between Ranor, the Company and the other affiliates of the Company
party thereto, on the one hand, and Berkshire Bank, on the other hand. The
description of the Amendment is qualified in its entirety by reference to the
full text of the Amendment, a copy of which is attached hereto as Exhibit 10.1
and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number Description
10.1 First Amendment to Amended and Restated Loan Agreement and First
Amendment to Promissory Note, dated as of December 17, 2021, by and
among Ranor, Inc., Stadco New Acquisition, LLC, Stadco, Westminster
Credit Holdings, LLC and Berkshire Bank.
104 Cover Page Interactive Data File (the cover page XBRL tags are embedded
within the inline XBRL document).© Edgar Online, source Glimpses
TECHPRECISION CORPORATION 
