Westrock Coffee (WEST) has released an update.
Westrock Coffee Company has issued $72 million of 5% convertible senior notes due in 2029, which can be converted into common stock under specific conditions before maturity. These notes are unsecured and do not impose financial constraints on the company. Additionally, Westrock Beverage Solutions, LLC amended its credit agreement, adjusting its covenant relief period and borrowing terms to accommodate the issuance of such convertible notes. The company’s related party transactions policy was followed in the sale, which was approved by the Audit and Finance Committee of the Board.
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