{"schema_version":"secwatch.filing_event.v1","accession":"0001005286-23-000087","form_type":"8-K","ticker":"LFCR","cik":"0001005286","company_name":"LIFECORE BIOMEDICAL, INC. DE","filed_at":"2023-05-23T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.550644+00:00","generated_at":"2026-06-14T16:55:08.738248+00:00","sec_items":["1.01","1.02","2.03","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Lifecore Biomedical secures $150M financing from Alcon; repays existing term loan, extends HA supply deal","bullets":["New $140M term loan from Alcon at 10% interest, PIK for first 3 years, matures May 2029.","$10M equipment sale-leaseback with Alcon for HA fermentation assets; lease expires May 2033.","Existing Goldman Sachs term loan fully repaid; BMO ABL amended with waiver of all current defaults.","Amended supply agreement with Alcon extends to Dec 2033, increases expected HA product volumes.","Company continues evaluation of strategic alternatives to maximize shareholder value."],"urls":{"canonical":"https://secwatch.observer/filing/0001005286-23-000087","json":"https://secwatch.observer/filing/0001005286-23-000087.json","markdown":"https://secwatch.observer/filing/0001005286-23-000087.md","text":"https://secwatch.observer/filing/0001005286-23-000087.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/0001005286-23-000087-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/lndc-20230522.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T16:55:08.738248+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"9d8b04f7d5254d3f7deffa800231275c698c5f8d","claim":"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.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/0001005286-23-000087-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"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"},{"label":"Counterparty","value":"Alcon Research, LLC"},{"label":"Rate","value":"fixed interest rate equal to 10% per annum. Interest is payable-in-kind until th"},{"label":"Maturity","value":"obligations under the Term Loan Credit Agreement mature on May 22, 2029"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"65b63c1467b676f9ebe2cdb50ebb7be47c90e133","claim":"LIFECORE BIOMEDICAL, INC. DE amended Revolving Loan Amendment with BMO Harris Bank, N.A. (effective 2023-05-22).","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/0001005286-23-000087-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"BMO Harris Bank, N.A."},{"label":"Effective","value":"2023-05-22"}],"fact_type":"material_agreement"},{"claim_id":"70d9a8e298a9a767983fe1eea0b24e27c7df4a60","claim":"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).","evidence_excerpt":"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 ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/0001005286-23-000087-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Alcon Research, LLC"},{"label":"Value","value":"up to $140.0 million"},{"label":"Effective","value":"2023-05-22"}],"fact_type":"material_agreement"},{"claim_id":"c8b4cfbc0176d18d0868776672daf675be3826f7","claim":"LIFECORE BIOMEDICAL, INC. DE terminated a credit facility with Goldman Sachs Specialty Lending Group, L.P. (effective 2023-05-22).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1005286/000100528623000087/0001005286-23-000087-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Goldman Sachs Specialty Lending Group, L.P."},{"label":"Effective","value":"2023-05-22"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}