secwatch.observer — SEC 8-K summary
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Issuer:     Vital Farms, Inc. (VITL)
CIK:        0001579733
Form:       8-K
Filed at:   2024-04-15T23:59:59+00:00
Accession:  0001193125-24-096167
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/0001193125-24-096167-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1579733/000119312524096167/d824960d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-096167

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