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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Farmer Brothers Company | NASDAQ:FARM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 0.64% | 3.15 | 3.11 | 3.17 | 3.15 | 3.11 | 3.13 | 4,072 | 17:28:30 |
(1)
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reduced the revolving commitments under the Credit Agreement to $125 million from $150 million but retained the sublimit on letters of credit and swingline loans of $15 million each;
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(2)
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removed the option to extend the maturity date with lender approval;
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(3)
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removed the accordion feature;
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(4)
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modified the commitment fee rate to range from 0.20% to 0.50%;
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(5)
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modified the applicable margin for base rate loans to range from 0.50% to 2.50% and the applicable margin for Eurodollar loans to range from 1.50% to 3.50%;
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(6)
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modified the definitions of “EBITDA” and “Permitted Acquisition”;
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(7)
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provided for the revolving commitments to be reduced upon the occurrence of certain asset dispositions and incurrences of other indebtedness;
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(8)
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increased the Company’s debt basket for the acquisition, construction, or improvement of any fixed or capital assets from $20 million to $40 million and modified certain of the Company’s other covenant-related baskets;
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(9)
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added a minimum EBITDA financial covenant until the quarter ending December 31, 2021; and
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(10)
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increased the maximum net debt to EBITDA ratio financial covenant until the quarter ending December 31, 2021.
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FARMER BROS. CO.
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By:
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/s/ Scott Lyon
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Scott Lyon
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Vice President and Corporate Controller
(interim principal financial and accounting officer) |
1 Year Farmer Brothers Chart |
1 Month Farmer Brothers Chart |
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