Lifeway Foods, Inc. (LWAY): debt financing — Lifeway Foods increases revolving credit facility from $5M to $25M, extends maturity to 2028

Lifeway Foods, Inc.

Revolving commitment raised from $5M to $25M with interest at Prime minus 1% or SOFR plus 1.75%.
Termination date extended to February 5, 2028.
New financial covenant: maximum cash flow leverage ratio of 2.00:1.00, effective Q1 2025.
Borrowers had no outstanding borrowings at time of amendment.
Closing fee of $25,000 paid to lender.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Lifeway Foods, Inc. incurred credit facility of $25 million with CIBC Bank USA at Base Rate (the Prime Rate minus 1.00%) or the SOFR plus 1.75% maturing February 5, 2028.

Instrument: credit facility
Principal: $25 million
Counterparty: CIBC Bank USA
Rate: Base Rate (the Prime Rate minus 1.00%) or the SOFR plus 1.75%
Maturity: February 5, 2028
Event: incurrence

Exact text from the filing

increased the commitment for revolving loans under the Credit Agreement (the “Revolving Commitment”) from $5 million to $25 million, with interest payable at either the lender Base Rate (the Prime Rate minus 1.00%) or the SOFR plus 1.75% (the “Revolving Commitment Increase”), (ii) extended the termination date of the Credit Agreement (the “Termination Date”) to February 5, 2028

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Lifeway Foods, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-25-000831

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