Company: CHEF
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0001517175-25-000021
Chunk: 23

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 23
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 debt extinguishment of $50 during the thirty-nine weeks ended September 27, 2024, which represents the portion of unamortized deferred financing fees attributable to the lender that exited the loan syndicate. Arrangement fees of $775 and third-party transaction costs of $91 were expensed as incurred during the thirty-nine weeks ended September 27, 2024 and included in interest expense and other operating expenses, respectively, within the Company’s condensed consolidated statements of operations.Additionally, during the thirty-nine weeks ended September 26, 2025 and September 27, 2024, the Company made voluntary principal prepayments totaling $5,000 and $12,000, respectively, towards the senior secured term loan. In connection with the prepayments, the Company wrote-off unamortized deferred financing fees of $150 during the thirty-nine weeks ended September 26, 2025 and $146 and $462 during the thirteen and thirty-nine weeks ended September 27, 2024, respectively, which were included in interest expense within the Company’s condensed consolidated statements of operations.Asset-Based Loan FacilityOn August 20, 2025, the Company entered into an amendment (“Eighth Amendment”) to its asset-based loan (the “ABL”) credit agreement, which extended the maturity date to August 20, 2030, eliminated the credit spread adjustment to the interest 

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rate charged on borrowings and increased the aggregate letters of credit. There were no changes to the aggregate commitments of $300,000. The Eighth Amendment to the ABL was accounted for as a debt modification. The Company incurred transaction costs of $658, which were capitalized as deferred financing fees to be amortized over the term of the ABL, and are presented in other non-current assets in the Company’s condensed consolidated balance sheet.As of September 26, 2025, the Company had reserved $40,484 of its ABL facility for the issuance of letters of credit and funds totaling $159,516 were available for borrowing under the ABL.GreenLeaf Unsecured NoteThe GreenLeaf Note matured on April 20, 2025, and the Company made the final principal payment of $5,000 during the thirty-nine weeks ended September 26, 2025. Previously, the Company made a scheduled principal payment of $5,000 towards the GreenLeaf Note during the thirty-nine weeks ended September 27, 2024. The GreenLeaf Note is presented at December 27, 2024 under the caption “