Business Context and Reporting Period
The Simply Good Foods Company (SMPL) filed a Current Report on Form 8-K on December 16, 2021. The filing details a material definitive agreement entered into by the Company and its subsidiaries to amend an existing credit facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific liquidity figures. The document focuses exclusively on the terms of a debt amendment.
- Debt Instrument: Credit Agreement dated July 7, 2017.
- Amendment: Amendment No. 3 (Extension Amendment).
- Parties: Atkins Intermediate Holdings, LLC, Conyers Park Acquisition Corp., Simply Good Foods USA, Inc., and various subsidiary borrowers.
Material Changes
The primary material change is the extension of the maturity date for the Revolving Commitments and Revolving Loans under the Credit Agreement.
- Previous Maturity Date: July 7, 2022.
- New Maturity Date: Extended to the earlier of (i) 91 days prior to the then-effective maturity date of the Initial Term Loans or (ii) December 16, 2026.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or outlook for future periods. It does not disclose specific risks or contingencies beyond the standard qualification that the description of the amendment is not complete and is subject to the full text of the Extension Amendment (Exhibit 10.1).
Investor Verification Checklist
- Verify the specific terms of the "Initial Term Loans" to determine if the December 16, 2026 date is the final maturity or if an earlier date applies based on the 91-day clause.
- Review Exhibit 10.1 (Amendment No. 3) for any changes to interest rates, fees, or covenants not explicitly detailed in the summary.
- Confirm the current outstanding balance of the Revolving Loans to assess the immediate impact of the maturity extension on liquidity.