Business Context and Reporting Period
Company: Coffee Holding Co., Inc. (JVA)
Filing Type: Form 8-K (Current Report)
Date of Report: June 28, 2022
Event: Entry into a Material Definitive Agreement regarding an amendment to an existing loan facility.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or liquidity positions. It specifically addresses debt terms.
- Debt Instrument: Amended and Restated Loan and Security Agreement (originally dated April 25, 2017).
- Lender: Webster Bank.
- Borrowers: Coffee Holding Co., Inc. and its subsidiary Organic Products Trading Company LLC.
- New Maturity Date: June 30, 2024.
- New Interest Rate: SOFR plus 1.75% per annum.
Material Changes
The filing details the Eighth Loan Modification Agreement, which alters the terms of the existing credit facility. The primary changes are the extension of the loan maturity to June 30, 2024, and the adjustment of the interest rate calculation to SOFR plus 1.75%. All other terms of the original Loan Agreement remain in full force and effect.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard disclosure that the summary of terms is qualified by the full text of the Amendment. The document notes that the full text of the Amendment will be filed as an exhibit to the Company's next quarterly report.
Investor Verification Checklist
- Verify the total principal amount outstanding under the amended loan agreement, as this figure is not disclosed in the 8-K.
- Review the full text of the Eighth Loan Modification Agreement (to be filed in the next quarterly report) for covenants, prepayment penalties, or collateral requirements.
- Confirm the current SOFR rate to calculate the precise effective interest rate.
- Assess the impact of the new maturity date (June 30, 2024) on the company's liquidity planning and refinancing needs.