---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-22-032046"
form_type: "8-K"
ticker: "SG"
cik: "0001477815"
company_name: "Sweetgreen, Inc."
filed_at: "2022-12-16T23:59:59+00:00"
generated_at: "2026-06-21T03:16:13.976314+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Sweetgreen upsizes credit facility to $45M, extends maturity to Dec 2024

## Summary
- Revolving credit facility increased from $35M to $45M via Amendment No. 3 with EagleBank.
- Maturity extended from Dec 14, 2022 to Dec 13, 2024 (or 90 days prior to any permitted convertible debt maturity).
- Interest rate set at one-month Term SOFR + 2.90%, with a 3.75% floor.
- No outstanding balance on the facility; only a $950K irrevocable standby letter of credit remains.
- Covenant requires liquidity (cash plus available revolver) at least equal to trailing 90-day cash burn.

## SEC filing metadata
- accession: 0001628280-22-032046
- form_type: 8-K
- ticker: SG
- cik: 0001477815
- company_name: Sweetgreen, Inc.
- filed_at: 2022-12-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/0001628280-22-032046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/sg-20221213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-22-032046
- JSON: https://secwatch.observer/filing/0001628280-22-032046.json
- Plain text: https://secwatch.observer/filing/0001628280-22-032046.txt

## Key facts
- Debt Financings
  Sweetgreen, Inc. amended revolving credit of $45.0 million with EagleBank at one-month term SOFR, plus 2.90% maturing December 13, 2024.
  - Instrument: revolving credit
  - Principal: $45.0 million
  - Counterparty: EagleBank
  - Rate: one-month term SOFR, plus 2.90%
  - Maturity: December 13, 2024
  - Event: amendment
  source text: The Third Amendment upsizes the existing revolving credit facility from $35.0 million to $45.0 million, and extends the maturity date of such revolving credit facility from December 14, 2022 to December 13, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/0001628280-22-032046-index.htm
- Material Agreements
  Sweetgreen, Inc. amended Amendment No. 3 to First Amended and Restated Revolving Credit, Delayed Draw Term Loan and Security Agreement with EagleBank valued at $45.0 million (effective 2022-12-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: EagleBank
  - Value: $45.0 million
  - Effective: 2022-12-13
  source text: On December 13, 2022, Sweetgreen, Inc. (the “ Company ”) and certain of its material subsidiaries entered into an Amendment No. 3 to First Amended and Restated Revolving Credit, Delayed Draw Term Loan and Security Agreement (the “ Third Amendment ”), which amends the Company’s existing 2020 Credit Facility with EagleBank (as amended, the “ Amended 2020 Credit Facility ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/0001628280-22-032046-index.htm

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