KEWAUNEE SCIENTIFIC CORP /DE/: Entry into Material Definitive Agreement (Form 8-K)


Section 1.01 Entering into a Material Definitive Agreement

    (a)  Effective as of April 29, 2022, Kewaunee Scientific Corporation (the
         "Company") entered into a Fourteenth Amendment to Credit and Security
         Agreement (the "Amendment") with Wells Fargo Bank, National Association
         (the "Bank"). The Amendment made certain changes to the Credit and
         Security Agreement, dated as of May 6, 2013, as amended (the "Credit
         Agreement"), between the Company and the Bank, and to the Revolving Line
         of Credit Note, dated May 6, 2013, made by the Company and payable to the
         order of the Bank, as amended (the "Revolving Note"). The changes
         included (i) reducing the amount available under the line of credit from
         $7,500,000 to $4,715,823; (ii) extending the maturity date under the
         Credit Agreement and Revolving Note from April 30, 2022 to May 31, 2022;
         and (iii) adding a cash collateral agreement whereby the Company shall
         deliver to the Bank cash in the amount of 105% of the outstanding issued
         Letters of Credit (as defined in the amended Credit Agreement) on or
         before May 23, 2022, which amount shall be deposited in, and maintained
         in, a blocked, non-interest-bearing deposit account at the Bank. The
         foregoing description is qualified in its entirety by reference to the
         Amendment, a copy of which will be filed as an exhibit to the Company's
         Annual Report on Form 10-K for the year ending April 30, 2022.

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