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i350 WillowBrook Office Park, iFairport, iNew
Yorki14450
(Address of Principal Executive Offices, including zip code)
(i585) i495-4100
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Exchange Act:
Title of Each Class
Trading Symbol
Name of Each Exchange on Which Registered
iCommon Stock Class A, $0.25 Par Value
iSENEA
iNASDAQ Global Select Market
iCommon Stock Class B, $0.25 Par Value
iSENEB
iNASDAQ Global Select Market
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
i☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
i☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
i☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
i☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company i☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01Entry 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
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.
