EX-99.1 3 educex99-1.htm EXHIBIT 99.1 Exhibit 99.1 PRESS RELEASE EDUCATIONAL DEVELOPMENT CORPORATION ANNOUNCES NEW LOAN AGREEMENT AND BANKING RELATIONSHIP TULSA, OK, March 11, 2026, Educational Development Corporation (“EDC”) (NASDAQ: EDUC) (http://www.edcpub.com) today announced that the Company has executed a new Credit Agreement (“Loan Agreement”) with Regent Bank. The Loan Agreement establishes a revolving promissory note in the principal amount up to $2,000,000 (the “Revolving Loan”). Interest shall be calculated each month on the borrowings outstanding. No funds were initially drawn on the agreement. The Credit Agreement was secured by the assets of the Company including; accounts receivable, inventory, equipment and excess land. As an additional inducement to enter into the Loan Agreement, the Lender required the personal guarantee of Craig White (“Guarantor”), President and Chief Executive Officer of the Company. Along with the new Loan Agreement, the Company will begin transitioning its treasury and other financial services to Regent Bank. Mr. White commented, “As we have previously announced, we have been looking to work with a new lender on our short term borro…
Open exhibit ↗Current Report · Items 1.01, 9.01 · 8-K
Educational Development Corporation
EDUCNASDAQEQUITYCurrent
Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On March 6, 2026, Educational Development Corporation (the “Company”) executed a Credit Agreement (“Loan Agreement”) with Regent (the “Lender”). The Loan Agreement establishes a revolving promissory note in the principal amount up to $2,000,000 (the “Revolving Loan”). Features of the Credit Agreement include:…
Company context
EDC began as a publishing company specializing in books for children. EDC is the owner and exclusive publisher of Kane Miller Books (“Kane Miller”); Learning Wrap-Ups, maker of educational manipulatives; and SmartLab Toys, maker of STEAM-based toys and games. EDC is also the exclusive United States MLM distributor of Usborne Publishing Limited (“Usborne”) children’s books. EDC-owned products are sold via 4,000 retail outlets and EDC and Usborne products are offered by independent brand partners who hold book showings through social media, book fairs with schools and public libraries, in individual homes, as well as other in-person events and internet sales.