MGP INGREDIENTS INC (MGPI) Form 8-K — Aug 7, 2026
MGP Ingredients entered into Amendment No. 2 to its Amended and Restated Credit Agreement with Wells Fargo as administrative agent on August 6, 2026, along with a conforming Eighth Amendment to its note purchase agreement with PGIM noteholders. The amendments modify the Consolidated EBITDA definition to let the company add back up to $20 million of losses on accounts receivable from specific customers through December 31, 2027, keeping those uncollected receivables from hurting its leverage and fixed charge covenant calculations.
Key figures
- Addback window
- periods ending on or prior to December 31, 2027
- Max net leverage ratio
- 4.00 to 1.00
- Elevated net leverage ratio
- 4.50 to 1.00
- Elevated ratio period start
- fiscal quarter ended June 30, 2026
- Share repurchase basket usd
- 25000000
- Elevated ratio period length
- four fiscal quarters (commencing quarter plus three consecutive quarters)
- Share repurchase basket period
- any four consecutive fiscal quarters
- Min fixed charge coverage ratio
- 1.25 to 1.00
- Receivable loss addback cap usd
- 20000000
- Unrestricted cash netting cap usd
- 50000000
- Acquisition consideration threshold for elevation usd
- 25000000
Price after filing
Close on the filing date to close N calendar days later (from $17.53). Historical, not a forecast.
AI analysis
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