---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-096167"
form_type: "8-K"
ticker: "VITL"
cik: "0001579733"
company_name: "Vital Farms, Inc."
filed_at: "2024-04-15T23:59:59+00:00"
generated_at: "2026-06-03T22:54:59.637703+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Vital Farms enters $60M senior secured revolving credit facility with JPMorgan

## Summary
- New $60M 5-year revolving credit facility replaces prior $20M PNC facility, which terminated concurrently.
- JPMorgan Chase acts as administrative agent; $0 drawn as of filing date.
- Interest: SOFR + 0.10% plus margin 0.75%-1.25% or base rate plus 1.75%-2.25%, based on net leverage.
- Covenants: net leverage ≤3.25x (up to 4.00x after M&A); fixed charge coverage ≥1.35x.
- Includes $5M LC sub-limit and accordion option for up to $35M or 100% consolidated adjusted EBITDA.

## SEC filing metadata
- accession: 0001193125-24-096167
- form_type: 8-K
- ticker: VITL
- cik: 0001579733
- company_name: Vital Farms, Inc.
- filed_at: 2024-04-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/d824960d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-096167
- JSON: https://secwatch.observer/filing/0001193125-24-096167.json
- Plain text: https://secwatch.observer/filing/0001193125-24-096167.txt

## Key facts
- Debt Financings
  Vital Farms, Inc. incurred revolving credit of $60.0 million with JPMorgan Chase Bank, N.A. at adjusted term Secured Overnight Financing Rate or adjusted daily Secured Overnig maturing five years.
  - Instrument: revolving credit
  - Principal: $60.0 million
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Rate: adjusted term Secured Overnight Financing Rate or adjusted daily Secured Overnig
  - Maturity: five years
  - Event: incurrence
  source text: On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm
- Material Agreements
  Vital Farms, Inc. terminated previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association with PNC Bank, National Association valued at $20.0 million (effective 2024-04-09).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: $20.0 million
  - Effective: 2024-04-09
  source text: The 2024 Credit Facility replaced the Company’s previous $20.0 million revolving credit and term loan facility entered into on October 4, 2017 with PNC Bank, National Association, which terminated concurrently with the establishment of the 2024 Credit Facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm
- Material Agreements
  Vital Farms, Inc. entered into 2024 Credit Facility with JPMorgan Chase Bank, N.A., as administrative agent valued at $60.0 million senior secured revolving credit facility (effective 2024-04-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Value: $60.0 million senior secured revolving credit facility
  - Effective: 2024-04-09
  source text: On April 9, 2024, Vital Farms, Inc. (the “Company”) entered into a credit agreement with the other loan parties party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provides for a five-year $60.0 million senior secured revolving credit facility (the “2024 Credit Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.