Westrock Coffee enters ATM equity distribution agreement for up to 5M shares

Westrock Coffee Co

Up to 5,000,000 shares of common stock may be sold through Wells Fargo and Truist as agents.
Sales will be made at prevailing market prices under an 'at the market' offering via shelf registration.
Commission to agents is 1.5% of gross proceeds from sales.
Agreement can be terminated by either party upon 10 days' notice, or after 2 years or when all shares sold.
Company is not obligated to sell any shares; terms subject to placement notice.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Westrock Coffee Co entered into Equity Distribution Agreement with Wells Fargo Securities, LLC and Truist Securities, Inc. valued at not to exceed 5,000,000 shares of Common Stock in the aggregate (effective 2024-03-15).

Action: entry
Agreement: atm program
Counterparty: Wells Fargo Securities, LLC and Truist Securities, Inc.
Value: not to exceed 5,000,000 shares of Common Stock in the aggregate
Effective: 2024-03-15

Exact text from the filing

On March 15, 2024, Westrock Coffee Company, a Delaware corporation (the “ Company ”), entered into an Equity Distribution Agreement (the “ Equity Distribution Agreement ”) with Wells Fargo Securities, LLC ( “ Wells Fargo ”) and Truist Securities, Inc. (“ Truist ,” and together with Wells Fargo, the “ Agents ”), pursuant to which the Company may from time to time offer and sell shares of the Company’s common stock, par value $0.01 per share (the “ Common Stock ”), not to exceed 5,000,000 shares of Common Stock in the aggregate (the “ Placement Securities ”), through the Agents as part of an “at the market” offering program.

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Source: SEC EDGAR

accession 0001104659-24-035092

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