Lifecore adds ~$8M non-dilutive liquidity via lender amendments; assigns Curation Foods assets

LIFECORE BIOMEDICAL, INC. DE

$5.5M prepayment from term lender as advance on future purchases; lender can apply to invoices in 2026.
FILO amendment adds ~$2.5M incremental revolver capacity under ABL; margin SOFR+4.25%, annual interest +~$44k.
Assignment for benefit of creditors of wholly owned subsidiary Curation Foods to SG Service Co. for liquidation.
Pro forma cash post-initiatives would be $11.0M (up from $3.0M); total debt $178.9M.
2024 Annual Incentive Plan amended: CEO & CFO cash incentives to be paid in unrestricted common stock.

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