PARAMOUNT, Calif., Aug. 08, 2022 (GLOBE NEWSWIRE) — Tattooed Chef, Inc. (Nasdaq: TTCF) (“Tattooed Chef” or the “Firm”), a frontrunner in plant-based meals, introduced as we speak an expanded and prolonged secured revolving credit score facility (“the credit score facility”) with UMB Financial institution, N.A., a subsidiary of UMB Monetary Company. The credit score facility was elevated to $40 million from $25 million and has a three-year time period set to mature in September 2025. The prior facility, additionally with UMB, was scheduled to mature in September 2023.

Tattooed Chef expects to make use of the credit score facility for normal company functions, which can embrace the funding of acquisitions, capital enchancment initiatives, and inner progress initiatives.

“We’re more than happy to increase our long-standing relationship with UMB and respect their continued assist of our enterprise and imaginative and prescient,” stated Sam Galletti, President and CEO of Tattooed Chef. “This expanded and prolonged credit score facility considerably enhances our liquidity and our runway, and gives us with the monetary flexibility to execute on our balanced, multi-pronged capital allocation technique.”

About Tattooed Chef

Tattooed Chef is a number one plant-based meals firm providing a broad portfolio of modern and sustainably sourced plant-based meals. Tattooed Chef’s signature merchandise embrace ready-to-cook bowls, zucchini spirals, riced cauliflower, acai and smoothie bowls, cauliflower crust pizza, handheld burritos, and quesadillas, which can be found within the frozen meals sections of main nationwide retail meals and membership shops throughout the US in addition to on Tattooed Chef’s e-commerce website. Understanding client way of life and meals traits, a dedication to innovation, and self-manufacturing permits Tattooed Chef to constantly introduce new merchandise. Tattooed Chef gives approachable, nice tasting and chef-created merchandise to the rising group of plant-based customers in addition to the mainstream market. For extra info, please go to www.tattooedchef.com​.

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Ahead Trying Statements

This discover accommodates forward-looking statements (together with inside the which means of the Non-public Securities Litigation Reform Act of 1995) regarding us and different issues. These statements might focus on targets, intentions and expectations as to future plans or occasions, primarily based on present beliefs of administration, in addition to assumptions made by, and knowledge at the moment obtainable to, administration. Ahead-looking statements could also be accompanied by phrases similar to “might,” “will,” “anticipate” or comparable phrases, phrases or expressions. These forward-looking statements are topic to varied dangers and uncertainties, lots of that are outdoors our management, together with these described in “Threat Components” in our annual report on Kind 10-Ok for the yr ended December 31, 2021. We warning readers to not place undue reliance upon any forward-looking statements.