---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-009233"
form_type: "8-K"
ticker: null
cik: "0001477246"
company_name: "S&W Seed Co"
filed_at: "2023-03-22T23:59:59+00:00"
generated_at: "2026-06-17T21:14:59.840833+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# S&W Seed enters $25M CIBC credit facility, amends MFP loan, issues warrant for 1.3M shares

## Summary
- New CIBC credit facility: up to $25M (Feb-Oct)/$18M (Nov-Jan), matures Aug 31, 2024; replaces prior loan.
- MFP Amendment raises cash advances to $13M, increases LC fee from 3.50% to 4.25% per annum.
- MFP receives warrant to purchase 1.3M shares at $2.15, expires March 2028.
- Warrant is unregistered, exempt under Section 4(a)(2) and Rule 506; MFP is largest shareholder.

## SEC filing metadata
- accession: 0000950170-23-009233
- form_type: 8-K
- cik: 0001477246
- company_name: S&W Seed Co
- filed_at: 2023-03-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/0000950170-23-009233-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/sanw-20230322.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-009233
- JSON: https://secwatch.observer/filing/0000950170-23-009233.json
- Plain text: https://secwatch.observer/filing/0000950170-23-009233.txt

## Key facts
- Debt Financings
  S&W Seed Co amended credit facility of up to $25.0 million with CIBC Bank USA at prime rate plus an applicable margin of 2.0% maturing August 31, 2024.
  - Instrument: credit facility
  - Principal: up to $25.0 million
  - Counterparty: CIBC Bank USA
  - Rate: prime rate plus an applicable margin of 2.0%
  - Maturity: August 31, 2024
  - Event: amendment
  source text: CIBC Loan Agreement ”). The Amended CIBC Loan Agreement now matures on August 31, 2024. The Amended CIBC Loan Agreement provides for a senior secured credit facility of up to $25.0 million from February 1 to October 31 of each year, and up to $18.0 million from November 1 to January 31 of each year (the “ CIBC Credit Facility ”). The proceeds of advances under the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/0000950170-23-009233-index.htm
- Material Agreements
  S&W Seed Co entered into Amended CIBC Loan Agreement with CIBC Bank USA valued at up to $25.0 million (effective 2023-03-22).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: CIBC Bank USA
  - Value: up to $25.0 million
  - Effective: 2023-03-22
  source text: On March 22, 2023, S&W Seed Company (the “ Company ”), as borrower, entered into an Amended and Restated Loan and Security Agreement (the “ Amended CIBC Loan Agreement ”) with CIBC Bank USA (“ CIBC ”), as administrative agent and sole lead arranger, and the other loan parties and lenders party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/0000950170-23-009233-index.htm
- Material Agreements
  S&W Seed Co amended MFP Amendment with MFP Partners L.P. valued at $13.0 million (effective 2023-03-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: MFP Partners L.P.
  - Value: $13.0 million
  - Effective: 2023-03-22
  source text: Concurrently, on March 22, 2023, the Company entered into a Third Amendment to Subordinate Loan and Security Agreement (the “ MFP Amendment ”) with MFP, amending the Company’s Subordinate Loan and Security Agreement, dated September 22, 2022 (as amended, the “ MFP Loan Agreement ”), with MFP, to (i) increase the aggregate amount of cash advances permitted from $12.0 million to $13.0 million;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/0000950170-23-009233-index.htm
- Material Agreements
  S&W Seed Co terminated Prior CIBC Loan Agreement with CIBC Bank USA (effective 2023-03-22).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: CIBC Bank USA
  - Effective: 2023-03-22
  source text: The Amended CIBC Loan Agreement replaces the Company’s existing Loan and Security Agreement with CIBC, dated December 26, 2019, as amended, by and among the Company, Seed Holding, LLC, Stevia California, LLC and CIBC (the “ Prior CIBC Loan Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477246/000095017023009233/0000950170-23-009233-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.