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Real Good Food subsidiary restates revolver, upsizes to $80 million
By William Gullotti
Buffalo, N.Y., July 26 – Real Good Food Co. Inc., via subsidiary borrower Real Good Foods, LLC, amended and restated its loan and security agreement with PMC Financial Services Group, LLC on July 21, according to an 8-K filing with the Securities and Exchange Commission.
The 25th amendment to the 2016-signed agreement allows for an additional $5 million of borrowings, increasing the maximum capacity of the revolver to $80 million from $75 million.
According to the filing, no other terms to the facility were amended.
The parent company’s executive chairman, Brian Freeman, was quoted in the appended press release saying, “The optionality and enhanced liquidity provided by this amendment provides us with access to non-dilutive capital to fund our growth and transition to positive cash generation.”
Real Good Food is a health and wellness frozen foods company based in Cherry Hill, N.J.
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