Tattooed Chef, Inc.: debt financing — Tattooed Chef enters $6M DIP credit facility with UMB Bank amid Chapter 11 cases

Tattooed Chef, Inc.

DIP facility consists of $3M new money revolving loans and $3M roll-up loans converting pre-petition debt.
Interest rate equals SOFR plus 5% per annum, with a 5% floor; $60,000 fee payable at maturity.
Interim court approval granted July 6; final approval required; maturity date is September 30, 2023.
Facility secured by super-priority priming liens on substantially all assets, subject to carve-outs.
Company filed for Chapter 11 on July 2, 2023; seeks to fund operations during restructuring.

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

Tattooed Chef, Inc. incurred credit facility of $6,000,000 senior secured super-priority debtor-in-possession credit facility with UMB at secured overnight financing rate as administered by the Federal Reserve Bank of maturing September 30, 2023.

Instrument: credit facility
Principal: $6,000,000 senior secured super-priority debtor-in-possession credit facility
Counterparty: UMB
Rate: secured overnight financing rate as administered by the Federal Reserve Bank of
Maturity: September 30, 2023
Event: incurrence

Exact text from the filing

On July 11, 2023, the Company Parties and UMB entered into a Senior Secured Super-Priority Priming Debtor-In-Possession Loan and Security Agreement (the “DIP Credit Agreement”), which provides for a $6,000,000 senior secured super-priority debtor-in-possession credit facility (the “DIP Facility”) consisting of (i) new money revolving loans in an aggregate amount of up to $3,000,000, and (ii) roll-up loans (where prepetition secured obligations to UMB are converted into post-petition secured obligations under the DIP Facility) in an aggregate amount of $3,000,000 (collectively, the “DIP Loans”).

View on SEC.gov

Browse all debt financings →

Source: SEC EDGAR

accession 0001628280-23-025000

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.