Seneca Foods Corp Enters Material Definitive Agreement

TL;DR

Seneca Foods just signed a big deal, details TBD.

AI Summary

On March 8, 2024, Seneca Foods Corporation entered into a material definitive agreement. The filing does not provide specific details about the agreement, such as the counterparty or the financial terms involved.

Why It Matters

This filing indicates a significant business transaction for Seneca Foods, which could impact its operations, financial standing, or strategic direction.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and potential impact of the agreement.

Key Players & Entities

• Seneca Foods Corporation (company) — Registrant
• March 8, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.25 — Which Registered Common Stock Class A, $0.25 Par Value SENEA NASDAQ Global Selec
• $300,000,000 — and including July 31 of each year from $300,000,000 to $350,000,000, with each lender's bor
• $350,000,000 — ly 31 of each year from $300,000,000 to $350,000,000, with each lender's borrowing commitmen
• $400,000,000 — pplicable from August 1 to March 31) of $400,000,000 will remain unchanged. A copy of the Am

Filing Documents

• senea20240308_8k.htm (8-K) — 25KB
• 0001437749-24-007174.txt ( ) — 169KB
• senea-20240308.xsd (EX-101.SCH) — 4KB
• senea-20240308_def.xml (EX-101.DEF) — 13KB
• senea-20240308_lab.xml (EX-101.LAB) — 17KB
• senea-20240308_pre.xml (EX-101.PRE) — 13KB
• senea20240308_8k_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On March 8, 2024, Seneca Foods Corporation, Seneca Foods, LLC, Seneca Snack Company, Green Valley Foods, LLC, (collectively, the "Borrowers"), Marion Foods, Inc., Portland Food Products Company, and Gray & Company (collectively, the "Guarantors", and together with the Borrowers, collectively, the "Company"), the financial institutions party thereto from time to time as lenders, Bank of America, N.A., a national banking association, as agent, as issuing bank and as syndication agent and BOFA Securities, Inc., a Delaware corporation, as lead arranger, entered into a Third Amendment (the "Amendment") to Fourth Amended and Restated Loan and Security Agreement (the "Agreement"). The Amendment amends Schedule 1.1 of the Agreement to increase the aggregate borrowing commitments for the period from April 1 through and including July 31 of each year from $300,000,000 to $350,000,000, with each lender's borrowing commitment increasing accordingly. The maximum borrowing commitment (applicable from August 1 to March 31) of $400,000,000 will remain unchanged. A copy of the Amendment will be attached as an Exhibit to the Company's Annual Report on Form 10-K for the fiscal year ending March 31, 2024.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amended report to be signed on its behalf by the undersigned hereunto duly authorized. Date: March 8, 2024 SENECA FOODS CORPORATION By: /s/ Michael S. Wolcott Name: Michael S. Wolcott Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR