Simply Good Foods Co. Enters into Repricing Amendment – What Investors Need to Know

On January 31, 2025, The Simply Good Foods Company, operating as Simply Good Foods Co (NASDAQ:SMPL), announced the execution of a Repricing Amendment to its existing Credit Agreement. Simply Good Foods USA, Inc., a wholly owned subsidiary of Simply Good Foods Co, entered into this amendment, which introduces new terms to the Credit Agreement dated July 7, 2017.

The key highlights of the Amendment include a reduction in the applicable rate for Initial Term Loans, specifically lowering rates for SOFR-based Initial Term Loans from 2.50% to 2.00% and for ABR-based Initial Term Loans from 1.50% to 1.00%. Furthermore, the Amendment eliminates a credit spread adjustment previously applied to SOFR loans and adjusts the period for prepayment premiums in connection with a Repricing Transaction to six months post the effective date of the Amendment.

A copy of the Amendment, labeled as Exhibit 10.1, has been attached to the filing for reference. It is essential to note that the description provided does not encompass all details, so it is advisable to refer to the complete text of the Amendment for a comprehensive understanding.

This filing, classified under Item 1.01, pertains to the entry into a Material Definitive Agreement. Additionally, under Item 2.03, the information related to the Amendment has also been incorporated. As required by Item 9.01, the filing includes the relevant financial statements and exhibits.

This substantial development within Simply Good Foods Co signifies a strategic move to optimize its financial agreements, potentially enhancing operational efficiency and cost-effectiveness. Investors and stakeholders are encouraged to review the complete details provided in the official documents for a deeper insight into the recent financial alterations within the organization.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Simply Good Foods’s 8K filing here.

About Simply Good Foods

The Simply Good Foods Company operates as a consumer-packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, protein chips, and recipes under the Atkins and Quest brand names.