The Hain Celestial Group, an organic and natural products company with operations in North America, Europe and India, received a waiver and extension of certain obligations under its unsecured credit facility from its lenders until June 22, 2017. This relates to the delivery of certain financial information under the credit facility, including the company’s audited financial statements for its fiscal year 2016 and financial statements for the first, second and third quarters of fiscal year 2017.
The extension will enable the company to be compliant with its credit facility reporting obligations while it works to complete the filing of its annual report on Form 10-K for its fiscal year ended June 30, 2016, its quarterly report on Form 10-Q for the quarter ended September 30, 2016, its quarterly report on Form 10-Q for the quarter ended December 31, 2016 and its quarterly report on Form 10-Q for the quarter ended March 31, 2017.
According to a related 8-K filing, on May 30, 2017, the company amended its credit agreement with Bank of America, as administrative agent, swing line lender and L/C issuer, Bank of America Merrill Lynch as global swingline lender, Wells Fargo Bank as syndication agent and JPMorgan Chase Bank, Citizens Bank and Farm Credit East as documentation agents.
This waiver and extension of the credit facility supports the extension granted by the Nasdaq Hearings Panel to the company to file its periodic reports with the Securities and Exchange Commission and regain Nasdaq listing compliance by June 30, 2017.
Lake Success, NY-based Hain Celestial Group produces leading organic and natural products including Celestial Seasonings, Earth’s Best, Ella’s Almond Dream, Yves Veggie Cuisine and Alba Botanica.