--- title: "Integrated BioPharma extends PNC revolving credit line to April 14, 2027" url: "https://aibio.space/news/integrated-biopharma-extends-pnc-revolving-credit-line-april-14-2027/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-02" section: "Distress" tickers: "OTC:INBP" source: "https://www.sec.gov/Archives/edgar/data/1016504/000143774926022415/inbp20260630_8k.htm" summary: "The $4,000,000.00 PNC line now runs to April 14, 2027, and a new Convertible ELOC of up to $250,000.00 replaces a matured $500,000.00 equipment note." --- By the aibio.space news desk. Sources - [Integrated BioPharma, Inc. 8-K (2026-07-02)](https://www.sec.gov/Archives/edgar/data/1016504/000143774926022415/inbp20260630_8k.htm) [INBP](https://aibio.space/companies/integrated-biopharma/) 2026-07-02 # Integrated BioPharma extends PNC revolving credit line to April 14, 2027 Tickers [INBP](https://aibio.space/companies/integrated-biopharma/) The $4,000,000.00 PNC line now runs to April 14, 2027, and a new Convertible ELOC of up to $250,000.00 replaces a matured $500,000.00 equipment note. ## Key facts - **Company**: Integrated BioPharma, Inc. (OTC: INBP) - **News type**: Distress - **Primary source**: [Integrated BioPharma, Inc. 8-K (2026-07-02)](https://www.sec.gov/Archives/edgar/data/1016504/000143774926022415/inbp20260630_8k.htm) *Stone columns of a government building. Photo: The Building Envelope, CC0, via StockSnap. The picture shows the field, not the companies named.* ## The amendment Integrated BioPharma, Inc. ([INBP](https://aibio.space/companies/integrated-biopharma/)) and its wholly owned subsidiary Manhattan Drug Company, Inc., together called the Borrower in the filing, signed an Amendment to Loan Documents on June 30, 2026 with PNC Bank, National Association. The company calls it the First Amendment. It changes the loan documents tied to the Loan Agreement that the company and PNC entered into on April 15, 2025. The company reported the deal in an 8-K signed by Chief Financial Officer Dina L Masi on July 2, 2026, under Item 1.01 for the new agreement and Item 1.02 for the ended one. The First Amendment extends the expiration date of the committed revolving line of credit to April 14, 2027. The line still allows advances with an aggregate principal amount outstanding at any time of no more than $4,000,000.00. The 8-K does not say how much of the line is drawn, and it does not describe any change to the interest rate, fees or covenants on the revolver. ## The new equipment note The Borrower also signed a Convertible Line of Credit Note (Daily SOFR), payable to the order of PNC, which the company calls the Convertible ELOC. The amount outstanding at any time may not exceed $250,000.00. Advances will pay for the purchase of equipment and vehicles. Before the conversion date, amounts outstanding bear interest at daily one-month SOFR plus 250 basis points (2.50%). From the conversion date, the remaining term carries either that same daily rate or a fixed rate that PNC offers in its sole discretion and that the Borrower and the bank agree in writing. The Borrower therefore has no right to a fixed rate. It depends on what PNC chooses to offer. The First Amendment ended the earlier Convertible Equipment Line of Credit Note (Daily SOFR), dated April 15, 2025, for up to $500,000.00. The filing says that note had matured, was of no further force or effect and had been replaced by the Convertible ELOC. The new note is smaller than the one it replaces. The 8-K lists the amendment and the new note as Exhibits 10.1 and 10.2. ## How the PNC facility began The company's annual report for the year ended June 30, 2025, filed on September 23, 2025, describes how the relationship started. On April 15, 2025, the company paid off its outstanding obligations under its Senior Credit Facility, ended that facility and entered the Loan Agreement with PNC. As of June 30, 2025 and 2024, the company had no debt outstanding under its lines of credit or senior credit facility. Under the Loan Agreement, the revolving line of credit was available until April 5, 2026, with advances of up to $4,000 thousand outstanding at any time, alongside a Convertible Equipment Line of Credit of up to $500 thousand. The revolver bore interest at daily one-month SOFR plus 250 basis points, and the principal and any unpaid interest were due on the expiration date. The company also signed a Reimbursement Agreement for Standby and Commercial Letter(s) of Credit at the same interest rate as the line. Under security agreements, the company and Manhattan Drug Company each granted PNC a continuing lien and security interest in all of their assets. The earlier Senior Credit Facility, dated June 27, 2012 and amended five times, with PNC as agent and lender, had provided $5,000 thousand of senior secured financing based on eligible accounts receivable and eligible inventory. It was due on May 15, 2026 and was paid off on April 15, 2025, before that date. ## What the filings leave out At June 30, 2025, inventories totaled $9,362 thousand, down from $11,244 thousand a year earlier. The 8-K does not show any default, waiver or covenant breach behind the amendment. It shows a secured credit line extended to April 14, 2027, with a smaller equipment note whose pricing after conversion rests on the lender's choice. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story INBP Integrated BioPharma, Inc. 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Cite as: aibio.space, "Integrated BioPharma extends PNC revolving credit line to April 14, 2027", 2026-07-02, https://aibio.space/news/integrated-biopharma-extends-pnc-revolving-credit-line-april-14-2027/