B&G Foods amends credit facility to raise leverage cap, updates ATM sales

B&G Foods, Inc.

Credit agreement amended: max leverage ratio temporarily increased to 8.00x for Q3 2022–Q3 2023, then steps down.
Q2 2022: sold 2,739,568 shares under ATM program for $63.2M gross ($23.08/share).
Since program launch: 6,547,627 shares sold, $179.0M gross proceeds ($27.34/share avg).
Net proceeds used to repay revolver and for general corporate purposes, including potential acquisitions.
CFO cites inflation, inventory build, and working capital needs; pricing actions and cost reductions ongoing.

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