secwatch.observer — SEC 8-K summary
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Issuer:     FARMER BROTHERS CO (FARM)
CIK:        0000034563
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001104659-23-078792
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 9.01, 2.03, 5.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Farmer Bros. completes $100M sale of direct ship business to TreeHouse Foods; pays off $47M term loan
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- Sale closed June 30, 2023 for $100M cash; proceeds fully repay $47M term loan and reduce ABL.
- Credit agreement amended: fixed charge coverage ratio tested only during low liquidity; revolver cut to $75M.
- Board: Christopher Mottern resigned; Alfred Poe elected Chairman effective June 30, 2023.
- John Moore and Tom Bauer appointed executive officers; new severance agreements with six executives.
- Pro forma annual revenue ~$350M; pro forma net loss per share -$0.76 for nine months ended Mar 31, 2023 vs -$1.66 historical.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34563/000110465923078792/0001104659-23-078792-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34563/000110465923078792/tm2320566d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-078792

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