Natural Grocers Amends Credit Agreement, Boosts Revolving Commitments to $75M and Extends Maturity to 2028

Natural Grocers by Vitamin Cottage, Inc.

Revolving credit commitments increased from $50M to $75M with scheduled reductions starting November 2024.
Maturity of revolving credit facility extended to November 16, 2028.
Permits one-time cash dividend up to $25M to be paid no later than December 31, 2023.
Annual restricted payment capacity for share repurchases and dividends raised to $15M.

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

Natural Grocers by Vitamin Cottage, Inc. amended Seventh Amendment with Bank of America, N.A. valued at increase its aggregate revolving commitments from $50.0 million to $75.0 million (effective 2023-11-16).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A.
Value: increase its aggregate revolving commitments from $50.0 million to $75.0 million
Effective: 2023-11-16

Exact text from the filing

On November 16, 2023, Vitamin Cottage Natural Food Markets, Inc. (the “Operating Company”), a wholly owned subsidiary of Natural Grocers by Vitamin Cottage, Inc. (the “Company”), entered into the Seventh Amendment to Credit Agreement (the “Seventh Amendment”) by and among the Operating Company, the guarantors party thereto (the “Guarantors”), the lenders party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender

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Natural Grocers by Vitamin Cottage, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-032899

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