S&W Seed Company filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events
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Item 1.01 Entry into a Material Definitive Agreement.
On November 29, 2024, S&W Seed Company (the "Company") entered into a Fifth Amendment to the Amended and Restated Loan and Security Agreement (the “CIBC Amendment”) with CIBC Bank USA ("CIBC"), which amended the Amended and Restated Loan and Security Agreement, dated March 22, 2023 (as amended, the "CIBC Loan Agreement"). The CIBC Amendment, effective as of November 29, 2024, among other things:
In connection with the CIBC Amendment, on November 27, 2024, the Company entered into a Sixth Amendment to Subordinate Loan and Security Agreement with MFP (the “MFP Amendment”), further amending the Company’s Subordinate Loan and Security Agreement with MFP, dated September 22, 2022 (as amended, the “MFP Loan Agreement”), to extend the maturity date of the letter of credit to January 31, 2025 in order to satisfy the CIBC Amendment condition as discussed above.
Except as modified by the CIBC Amendment and the MFP Amendment, respectively, all terms and conditions of the CIBC Loan Agreement and the MFP Loan Agreement remain in full force and effect.
Item 8.01 Other Events.
On November 29, 2024, the Company received a formal notification from The Nasdaq Stock Market (“Nasdaq”) confirming that the Company has regained compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies submit to the Securities and Exchange Commission on a timely basis all required periodic financial reports. As such, this matter is now closed.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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S&W SEED COMPANY |
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By: |
/s/ Vanessa Baughman |
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Vanessa Baughman |
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Chief Financial Officer |
Date: December 2, 2024 |
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