Company: CHEF
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001628280-25-036589
Chunk: 46

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-07-30
Form: 10-Q
Item: Item 8
Chunk 46
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 and third-party transaction costs of $91 were expensed as incurred during the twenty-six weeks ended June 28, 2024 and included in interest expense and other operating expenses, respectively, within the Company’s condensed consolidated statements of operations.Additionally, during the twenty-six weeks ended June 27, 2025 and June 28, 2024, the Company made voluntary principal prepayments totaling $5,000 and $8,000, respectively, towards the senior secured term loan. In connection with the prepayments, the Company wrote-off unamortized deferred financing fees of $150 during the thirteen and twenty-six weeks ended June 27, 2025 and $77 and $316 during the thirteen and twenty-six weeks ended June 28, 2024, respectively, which were included in interest expense within the Company’s condensed consolidated statements of operations.GreenLeaf Unsecured NoteThe GreenLeaf Note matured on April 20, 2025, and the Company made the final principal payment of $5,000 during the twenty-six weeks ended June 27, 2025. Previously, the Company made a scheduled principal payment of $5,000 towards the GreenLeaf Note during the twenty-six weeks ended June 28, 2024. The GreenLeaf Note is presented at December 27, 2024 under the caption “Finance leases and other financing obligations” in the table above.Convertible NotesThe net carrying value of the Company’s 2028 convertible senior notes as of June 27, 2025 and December 27, 2024 was:June 27, 2025December 27, 2024Principal AmountUnamortized Deferred CostsNet AmountPrincipal AmountUnamortized Deferred CostsNet Amount2028 Convertible Notes$287,500 $(4,011)$283,489 $287,500 $(4,584)$282,916 

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The components of interest expense on the Company’s convertible notes were as follows: Thirteen Weeks EndedTwenty-Six Weeks Ended June 27, 2025June 28, 2024June 27, 2025June 28, 2024Coupon interest$1,707 $1,893 $3,414 $3,786 Amortization of deferred costs and premium287 333 573 666 Total interest$1,994 $2,226 $3,987 $4,452 As of June 27, 2025