Mama's Creations Inc. Enters Material Definitive Agreement

Ticker: MAMA · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1520358

Mama'S Creations, INC. 8-K Filing Summary
FieldDetail
CompanyMama'S Creations, INC. (MAMA)
Form Type8-K
Filed DateAug 5, 2024
Risk Levelmedium
Pages2
Reading Time2 min
Key Dollar Amounts$0.00001, $3.5 million, $2 million, $5.5 million
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation, company-update

TL;DR

Mama's Creations Inc. just signed a big deal creating a new financial obligation.

AI Summary

On July 31, 2024, Mama's Creations, Inc. entered into a material definitive agreement, likely a loan or financing arrangement, creating a direct financial obligation for the company. The filing also includes financial statements and exhibits related to this event.

Why It Matters

This filing indicates Mama's Creations, Inc. has taken on a new financial obligation, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce financial risk if not managed properly.

Key Players & Entities

FAQ

What type of material definitive agreement did Mama's Creations, Inc. enter into?

The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific nature of the agreement is not detailed in this excerpt.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on July 31, 2024.

What is Mama's Creations, Inc.'s state of incorporation?

Mama's Creations, Inc. is incorporated in Nevada.

What was Mama's Creations, Inc. formerly known as?

Mama's Creations, Inc. was formerly known as MamaMancini's Holdings, Inc. and Mascot Properties, Inc.

What is the business address of Mama's Creations, Inc.?

The business address is 25 Branca Road, East Rutherford, NJ 07073.

Filing Stats: 606 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-08-05 16:30:50

Key Financial Figures

Filing Documents

01

Item 1.01. Entry into a Material Definitive Agreement. On July 31, 2024, Mama's Creations, Inc. (the "Company") and certain of its subsidiaries entered into the Amendment to Credit Agreement (the "Amendment") with M&T Bank, amending the Company's existing Credit Agreement and related Multiple Disbursement Term Loan (the "Term Loan"), and Amended and Restated Revolving Line Note (the "Revolver"), each dated as of October 26, 2022, as amended July 18, 2023(as amended, the "Amended Credit Facility"). The Amendment extends the maturity date of the Revolver from October 31, 2025 to November 30, 2027, and modifies the fixed charge coverage ratio covenant to permit up to $3.5 million of unfunded capital expenditures that will not be deducted from "EBITDA" in the coverage ratio calculations through April 30, 2025. The Amendment also adds a covenant requiring the Company to maintain a balance on the Revolver of no more than $2 million for at least one month during the Company's fiscal year and removes LIBOR interest rate elections. The Amended Credit Facility continues to provide for loans and letters of credit up to $5.5 million under the Revolver, and the existing Term Loan. All other rights and obligations under the Amended Credit Facility remain substantially the same and are unconditionally guaranteed by the Company and certain of its subsidiaries. The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which is attached as Exhibit 10.1 hereto and is hereby incorporated by reference herein.

03

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information described above under "Item 1.01 Entry into a Material Definitive Agreement" is hereby incorporated by reference into this Item 2.03.

01

Item 9.01. Exhibits (d) Exhibits Exhibit Number Description 10.1 Amendment to M&T Credit Agreement, dated as of July 31, 2024. 10.2 M&T Credit Agreement, dated as of October 26, 2022. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Mama's Creations, Inc. By: /s/ Adam L. Michaels Name: Adam L. Michaels Title: Chief Executive Officer Dated: August 5, 2024

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