Tattooed Chef, a provider of plant-based foods, expanded and extended its secured revolving credit facility with UMB Bank, a subsidiary of UMB Financial Corporation. The credit facility was increased to $40 million from $25 million and has a three-year term set to mature in September 2025. The prior facility, also with UMB, was scheduled to mature in September 2023.
Tattooed Chef expects to use the credit facility for general corporate purposes, which may include the funding of acquisitions, capital improvement projects and internal growth initiatives.
“We are very pleased to extend our long-standing relationship with UMB and appreciate their continued support of our business and vision,” Sam Galletti, president and CEO of Tattooed Chef, said. “This expanded and extended credit facility significantly enhances our liquidity and our runway, and provides us with the financial flexibility to execute on our balanced, multi-pronged capital allocation strategy.”
