Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
LIFECORE BIOMEDICAL, INC. DE incurred term loan of up to $140.0 million in term loans, which were funded in full on May 22, 2023 (the amount of which may be adjusted pursu with Alcon Research, LLC at fixed interest rate equal to 10% per annum. Interest is payable-in-kind until th maturing obligations under the Term Loan Credit Agreement mature on May 22, 2029.
- Instrument
- term loan
- Principal
- up to $140.0 million in term loans, which were funded in full on May 22, 2023 (the amount of which may be adjusted pursu
- Counterparty
- Alcon Research, LLC
- Rate
- fixed interest rate equal to 10% per annum. Interest is payable-in-kind until th
- Maturity
- obligations under the Term Loan Credit Agreement mature on May 22, 2029
- Event
- incurrence
Exact text from the filing
The Term Loan Credit Agreement provides for up to $140.0 million in term loans, which were funded in full on May 22, 2023 (the amount of which may be adjusted pursuant to its terms following the post-closing adjustments set forth in the Equipment Sale and Leaseback Agreement (defined below)). The obligations under the Term Loan Credit Agreement mature on May 22, 2029. The Term Loan Credit Agreement is secured by the same collateral that secures the Revolving Credit Agreement (defined below), with relative priorities in respect thereof, as set forth in the Intercreditor Agreement (defined below). The loans under the Term Loan Credit Agreement have a fixed interest rate equal to 10% per annum.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
LIFECORE BIOMEDICAL, INC. DE amended Revolving Loan Amendment with BMO Harris Bank, N.A. (effective 2023-05-22).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- BMO Harris Bank, N.A.
- Effective
- 2023-05-22
Exact text from the filing
On May 22, 2023, the Borrowers and certain of the Company’s other subsidiaries, as guarantors, entered into a Limited Waiver, Consent and Fifth Amendment (the “ Revolving Loan Amendment ”) to that certain Credit Agreement (the “ Revolving Credit Agreement ”), dated as of December 31, 2020, by and among, inter alios, the Borrowers and BMO Harris Bank, N.A. (“ BMO ”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
LIFECORE BIOMEDICAL, INC. DE entered into Term Loan Credit Agreement with Alcon Research, LLC valued at up to $140.0 million (effective 2023-05-22).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Alcon Research, LLC
- Value
- up to $140.0 million
- Effective
- 2023-05-22
Exact text from the filing
On May 22, 2023, Lifecore Biomedical, Inc. (the “ Company ”), Curation Foods, Inc. (“ Curation ”) and Lifecore Biomedical Operating Company, Inc. (“ Lifecore ” and, together with the Company and Curation, the “ Borrowers ”), certain of the Company’s other subsidiaries, as guarantors, and Alcon Research, LLC (“ Alcon ”), as administrative agent, collateral agent and lender, entered into that certain Credit and Guaranty Agreement (the “ Term Loan Credit Agreement ”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
LIFECORE BIOMEDICAL, INC. DE terminated a credit facility with Goldman Sachs Specialty Lending Group, L.P. (effective 2023-05-22).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Goldman Sachs Specialty Lending Group, L.P.
- Effective
- 2023-05-22
Exact text from the filing
The Term Loan Credit Agreement refinanced in full all obligations of the Borrowers and their subsidiaries under that certain Credit and Guaranty Agreement, dated as of December 31, 2020, by and among, inter alios, the Borrowers and Goldman Sachs Specialty Lending Group, L.P., as administrative agent, collateral agent and a lender, which was terminated upon the entry into the Term Loan Credit Agreement.
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