Business Context and Reporting Period
Company: Coffee Holding Co., Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: March 23, 2018
Event: Entry into a Material Definitive Agreement (Amendment to Loan Agreement) with Sterling National Bank.
Key Financial Metrics
This filing reports on a specific debt modification rather than periodic financial performance. Consequently, revenue, profit, cash flow, and margin data are not provided in this document.
- Debt Facility: Amended and Restated Loan and Security Agreement.
- New Maximum Principal Limit: $14,000,000.
- New Interest Rate: LIBOR plus 2.0% per annum.
- New Maturity Date: March 31, 2020.
Material Changes Versus Prior Period
The filing details a modification to the Loan Agreement originally dated April 25, 2017. The material changes include:
- Extension of Term: The loan maturity date was extended to March 31, 2020.
- Increased Capacity: The maximum principal amount available was increased to $14,000,000.
- Reduced Cost of Borrowing: The interest rate was reduced to LIBOR plus 2.0%.
Guidance, Outlook, and Risks
Management Commentary: The filing states that, other than the modifications listed above, the terms of the original Loan Agreement and the related Guaranty Agreement remain in full force and effect.
Risks and Contingencies: The filing notes that the summary of terms is qualified in its entirety by the full text of the Amendment (Exhibit 10.1). No specific forward-looking guidance or new risk factors were disclosed in this report.
Key Facts for Investor Verification
- Verify the current outstanding principal balance against the new $14,000,000 limit.
- Confirm the specific LIBOR index and calculation methodology referenced in the full agreement.
- Review the full text of Exhibit 10.1 for any covenants or conditions not summarized in the 8-K.
- Check subsequent filings for any further amendments or defaults related to this facility.