Tattooed Chef intends to file for voluntary Chapter 11 bankruptcy protection

Tattooed Chef announced that it intends to file for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Central District of California and intends to pursue a sale of substantially all of its assets under Section 363 of the Bankruptcy Code. In accordance with the sale process under Section 363 of the Bankruptcy Code, the Company will market its assets and solicit competing bids from interested parties. The bidding process is designed to achieve the highest and best price for the Company’s assets. The Company will manage the bidding process and evaluate any bids received, in consultation with its advisors and as overseen by the Bankruptcy Court. The Company seeks to complete an expedited sale process, with any sales subject to review by creditors and approval by the Bankruptcy Court. The Company has retained SC&H Capital, an affiliate of SC&H Group, Inc, as its investment bank to manage the sale process and seek qualified bidders for its assets. The Company expects to continue operations during the Chapter 11 process, including, but not limited to, paying employees and continuing existing benefits programs, meeting commitments to customers and fulfilling go-forward obligations, including key vendor payments.