M&A: S&W Seed Co

Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Acquisition

Type: New

Accession Number: 000095017024139575

Comments: On December 19, 2024, S&W Seed Company entered into a Credit and Security Agreement with ABL OPCO LLC, establishing a senior secured credit facility of up to $25 million, maturing on February 20, 2026. This agreement allows for financial flexibility to support working capital needs and other corporate purposes. The initial advances were used to pay off prior obligations to CIBC Bank USA. The agreement also outlines interest rates based on one-month term SOFR plus an 8% margin and includes various conditions, covenants, and potential events of default. Additionally, S&W Seed Company repurchased 200,000 shares of its common stock from MFP Partners L.P., which were subsequently retired. MFP will have a representative attend board meetings as a non-voting observer, signaling a deeper relationship between MFP and S&W Seed Company.

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