Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Tattooed Chef, Inc. incurred loan of $2,000,000 with Salvatore Galletti at daily adjusting term SOFR rate + 3.0% per annum maturing September 30, 2025.
- Instrument
- loan
- Principal
- $2,000,000
- Counterparty
- Salvatore Galletti
- Rate
- daily adjusting term SOFR rate + 3.0% per annum
- Maturity
- September 30, 2025
- Event
- incurrence
Exact text from the filing
On April 7, 2023, Tattooed Chef, Inc. (the “Company”) received a $2,000,000 unsecured loan from the Company’s CEO and Chairman of the Board, Salvatore Galletti.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Tattooed Chef, Inc. entered into Promissory Note with Salvatore Galletti valued at $2,000,000 unsecured loan (effective 2023-04-07).
- Action
- entry
- Counterparty
- Salvatore Galletti
- Value
- $2,000,000 unsecured loan
- Effective
- 2023-04-07
Exact text from the filing
On April 7, 2023, Tattooed Chef, Inc. (the “Company”) received a $2,000,000 unsecured loan from the Company’s CEO and Chairman of the Board, Salvatore Galletti. The Company, in turn, loaned that $2,000,000 on an unsecured basis to its operating subsidiary, Ittella International, LLC (“Ittella”). This loan is in addition to (i) the $5,000,000 loan made by Mr. Galletti in November 2022 and described in the Company’s Current Report on Form 8-K filed on November 28, 2022, and (ii) the $5,000,000 loan made by Mr. Galletti in December 2022 and described in the Company’s Current Report on Form 8-K filed on December 30, 2022. The loan from Mr. Galletti to the Company is evidenced by a Promissory Note (the “Note”) that bears interest at the same rate as that payable to UMB Bank, N.A. (the “Bank”), the Company’s lender under its principal line of credit (i.e., the daily adjusting term SOFR rate + 3.0% per annum), that matures on September 30, 2025 (the “Maturity Date”), and is payable interest o
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