secwatch.observer — SEC 8-K summary
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Issuer:     S&W Seed Co (—)
CIK:        0001477246
Form:       8-K
Filed at:   2025-06-23T23:59:59+00:00
Accession:  0001641172-25-016005
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 2.03, 2.04, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

S&W Seed in default on $20.9M debt; CEO terminated; cuts to 7 employees; exploring bankruptcy
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- Default under $25M Mountain Ridge credit facility due to ~$180K borrowing base overage; total obligations ~$20.9M; cross-default on $4.3M AgAmerica term loan secured by Texas land.
- CEO Mark Herrmann terminated June 18, 2025; CFO Vanessa Baughman appointed interim CEO effective immediately.
- Company terminates all but 7 key employees to reduce costs; exploring strategic alternatives including asset sales, dissolution, liquidation, or bankruptcy relief.
- Received $1.08M emergency loan from Mountain Ridge at 18% interest plus $6,500/day for payroll; no assurance of resolution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1477246/000164117225016005/0001641172-25-016005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1477246/000164117225016005/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-016005

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