secwatch.observer — SEC 8-K summary
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Issuer:     Tattooed Chef, Inc. (—)
CIK:        0001741231
Form:       8-K
Filed at:   2023-04-12T23:59:59+00:00
Accession:  0001628280-23-011400
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tattooed Chef receives additional $2M unsecured loan from CEO Galletti; total insider loans reach $12M
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- CEO Salvatore Galletti loaned $2M unsecured to TTCF on Apr 7, 2023; company on-lent to subsidiary Ittella.
- Interest at daily adjusting Term SOFR + 3.0% per annum; matures Sep 30, 2025; monthly interest-only payments.
- This adds to prior $5M loans in Nov 2022 and Dec 2022, bringing total CEO loans to $12M.
- Payments subordinated to UMB Bank line of credit; PIK interest applies if payments prohibited.
- Reliance on insider financing signals ongoing cash needs; no new external credit facility announced.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1741231/000162828023011400/0001628280-23-011400-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1741231/000162828023011400/ttcf-20230407.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-011400

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