STRYVE FOODS, INC.: debt financing — Stryve Foods exits distribution center lease; expects >$1M annual savings, eliminates $10M+ lease obligations

STRYVE FOODS, INC.

Lease terminated Feb 6, 2025; $1.1M fee via 0% note payable in 60 monthly installments to Apr 2030.
Eliminated ~$10.2M in future liabilities ($7.6M lease + $2.6M maintenance).
Transition to Dot Foods and 3PL partners expected to yield >$1M net annual savings.
Savings projected to begin Q1 2025; follows $8.7M debt retirement and expanded retail distribution.
CEO Chris Boever and CFO Alex Hawkins cite enhanced service levels and capital for growth.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

STRYVE FOODS, INC. incurred debt of $1.1 million with Denali Texas 16240 Gateway Industrial, LLC at 0.0% maturing maturing on April 1, 2030.

Principal: $1.1 million
Counterparty: Denali Texas 16240 Gateway Industrial, LLC
Rate: 0.0%
Maturity: maturing on April 1, 2030
Event: incurrence

Exact text from the filing

the Company issued a Note on February 6, 2025 to the Landlord for the amount of the lease termination fee of $1.1 million. The Note bears interest at 0.0% and is to be repaid in sixty (60) monthly installments maturing on April 1, 2030.

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Source: SEC EDGAR

accession 0001493152-25-006071

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