American Shared Hospital Services amends Fifth Third Bank credit agreement, wins forbearance through June 2027
AMS•Separate subordinated note financing
Separately, the company raised USD 2 million via a 10% subordinated note from RCS/TIG Holdings, maturing July 21, 2027, with proceeds placed in a blocked account.
Borrowing limits, payments and asset sale requirement
The terms restrict new revolver borrowings, require monthly excess cash flow prepayments above USD 5 million, and set quarterly principal payments starting Oct. 10, 2026.
The amendment also requires the company to pursue an asset sale, with milestones tied to potential fees payable to the lender.
Credit agreement amended with forbearance through June 2027
American Shared Hospital Services amended its 2021 credit agreement with Fifth Third Bank on July 22, 2026, adding a forbearance through June 30, 2027.
Fifth Third will standstill on specified defaults, waive certain cash and leverage covenants during the period, and bar default interest.
