UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
Amendment to Loan Agreement
On June 28, 2022, Coffee Holding Co., Inc. (the “Company”) and its wholly owned subsidiary Organic Products Trading Company LLC (“OPTCO,” and together with the Company the “Borrowers”) entered into the Eighth Loan Modification Agreement (the “Amendment”) with Webster Bank (“Lender”), which amended that certain Amended and Restated Loan and Security Agreement, as amended (the “Loan Agreement”), dated April 25, 2017, by and among Borrowers and Lender. The Amendment modifies the Loan Agreement to, among other things: (i) provide for a new loan maturity date of June 30, 2024, and (ii) set the interest rate per annum to SOFR plus 1.75%.
Other than as modified above, the terms of the Loan Agreement remain in full force and effect.
The foregoing summary of the terms of the Amendment is not intended to be complete and is qualified in its entirety by the terms of the Amendment, a copy of which will be filed as an exhibit to the Company’s next quarterly report.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As of June 28, 2022, the Amendment constitutes a direct financial obligation of the Company, the material terms of which are described above under Item 1.01 and are incorporated herein by reference.
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.
| COFFEE HOLDING CO., INC. | ||
| Dated: July 5, 2022 | By: | /s/ Andrew Gordon |
| Name: | Andrew Gordon | |
| Title: | President and Chief Executive Officer | |