secwatch.observer — SEC 8-K summary
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Issuer:     LIFECORE BIOMEDICAL, INC. DE (LFCR)
CIK:        0001005286
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0001005286-24-000062
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lifecore amends ABL facility with FILO tranche; still faces Nasdaq delisting risk
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- Entered FILO tranche under ABL credit agreement with BMO; FILO loans bear SOFR +4.25%.
- Nasdaq Panel requested additional info on delayed filings; company responded May 10 and 14, 2024; no decision yet.
- Company continues to work to file delinquent periodic reports to regain Nasdaq Listing Rule 5250(c)(1) compliance.
- Repayments apply first to non-FILO, then FILO loans; FILO cap reduces monthly from October 2025.
- Seventh Amendment effective May 10, 2024; Loan Parties reaffirm obligations and release claims against lenders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1005286/000100528624000062/0001005286-24-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1005286/000100528624000062/lndc-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001005286-24-000062

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