---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-032899"
form_type: "8-K"
ticker: "NGVC"
cik: "0001547459"
company_name: "Natural Grocers by Vitamin Cottage, Inc."
filed_at: "2023-11-22T23:59:59+00:00"
generated_at: "2026-06-07T22:10:45.109532+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-032899
- form_type: 8-K
- ticker: NGVC
- cik: 0001547459
- company_name: Natural Grocers by Vitamin Cottage, Inc.
- filed_at: 2023-11-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1547459/000143774923032899/0001437749-23-032899-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1547459/000143774923032899/ngvc20231120_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-032899
- JSON: https://secwatch.observer/filing/0001437749-23-032899.json
- Plain text: https://secwatch.observer/filing/0001437749-23-032899.txt

## Key facts
- Material Agreements
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1547459/000143774923032899/0001437749-23-032899-index.htm

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