secwatch.observer — SEC 8-K summary
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Issuer:     Sweetgreen, Inc. (SG)
CIK:        0001477815
Form:       8-K
Filed at:   2022-12-16T23:59:59+00:00
Accession:  0001628280-22-032046
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/0001628280-22-032046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477815/000162828022032046/sg-20221213.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-032046

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