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The Real Good Food Company, Inc. (NASDAQ: RGF) is an innovative and fast-growing entity in the health and wellness-focused frozen food sector. The company specializes in developing, marketing, and manufacturing a variety of delicious and convenient comfort foods that are high in protein, low in sugar, and made from gluten- and grain-free ingredients. These products cater to the clean eating movement, making it easy for consumers to enjoy nutritious meals without compromising on taste.
Founded with the mission to provide 'Real Food You Feel Good About Eating,' the company's first product line of frozen pizzas quickly gained traction in the direct-to-consumer (D2C) market and over 2,000 specialty nutrition stores. By 2017, Real Good Foods expanded into the broader retail pizza category, achieving approximately 70% ACV distribution by August 2018, without relying on third-party distributors.
Since then, Real Good Foods has diversified its product offerings to include frozen snacks and ethnic frozen meals. This expansion has been supported by the company's strong social media presence, boasting over 300,000 followers in just 18 months, driving new users to these categories and boosting sales for retailers.
Recently, Real Good Foods has made headlines for its financial performance and strategic initiatives. On October 31, 2023, the company released its Financial Results for the Quarter Ended September 30, 2023, and provided preliminary guidance for the year ending December 31, 2024. The company expects to achieve positive cash earnings starting in the fourth quarter of 2023 and continuing into 2024.
Furthermore, on November 9, 2023, Real Good Foods entered into a term sheet with PMC Financial Services for a debt refinancing agreement, aimed at enhancing liquidity by $15 million and significantly reducing cash debt service.
The company's products are available in over 16,000 stores nationwide, with additional direct-to-consumer options. Their recent foray into the refrigerated burrito segment within the Club Channel has been particularly notable, offering nutritious options with limited net carbs and high protein content.
For more information or to get in touch, you can follow Real Good Foods on Facebook, Instagram, or Twitter @realgoodfoods, or visit their website at www.realgoodfoods.com.
The Real Good Food Company (Nasdaq: RGF) has received a notice from Nasdaq regarding its failure to timely file Form 10-Q for the period ended September 30, 2024. This serves as an additional basis for potential delisting from Nasdaq. The company has presented its plan to file all delinquent periodic reports at a hearing before the Nasdaq Hearings Panel, which has not yet issued its decision. There is no guarantee that RGF will regain compliance or receive a further extension for continued listing.
The Real Good Food Company (NASDAQ: RGF) has announced significant debt refinancing transactions with PMC Financial Services and Emblem Investments Fund I, LP. The company has amended its existing financing with PMC and entered into a new term loan agreement of $60 million with Emblem. Of this amount, $8 million will repay existing PMC financing, while $52 million will be used for general corporate purposes and transaction fees.
These transactions aim to support the expansion of manufacturing capabilities and drive corporate initiatives for profitable long-term growth. As part of the agreement, the company issued 19.99% of its outstanding equity to Emblem in the form of Class C Units of its subsidiary, exchangeable into common shares. CEO Tim Zimmer expressed that these transactions provide significant liquidity for critical investments in supply chain and strategic initiatives, positioning the company to meet strong product demand and improve customer service.
The Real Good Food Company (Nasdaq: RGF) has received a notice from Nasdaq regarding potential delisting due to non-compliance with listing rules. The company failed to file required periodic financial reports with the SEC in a timely manner. Nasdaq has initiated a delisting process, determining that RGF would not be able to become fully current by October 14, 2024. RGF plans to request a hearing before an independent Panel, which will automatically stay any suspension or delisting action through October 4, 2024. The company will seek an extended stay through the hearing process, with the maximum extension possible running through April 11, 2025. However, there is no guarantee that RGF will regain compliance or receive further extensions.
The Real Good Food Company (NASDAQ: RGF), a health and wellness frozen and refrigerated foods company, has received a notification from Nasdaq regarding non-compliance with listing rules. The company failed to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. RGF now has until September 10, 2024, to submit a plan to regain compliance. If accepted, Nasdaq may grant an exception of up to 180 calendar days, ending October 14, 2024, for the company to meet requirements. While this notification does not immediately affect RGF's listing on Nasdaq, there is no guarantee that the company will regain compliance with the listing standards.
Real Good Foods (Nasdaq: RGF) has announced the launch of its new Garlic Parmesan and Lightly Buttered Seasoned Chicken Breast Chunks. These products will be available in the frozen poultry section of about 4,000 Walmart stores nationwide starting June 2024. The seasoned chicken chunks offer more protein and fewer carbohydrates compared to leading chicken nugget brands, and are also gluten and grain-free. The new items complement Real Good Foods' existing range of Lightly Breaded Chicken Breast Nuggets and Strips. The company aims to make nutritious and convenient foods more accessible. Bryan Freeman, Executive Chairman, expressed enthusiasm about the product's introduction and plans to expand their Frozen Proteins portfolio.
The Real Good Food Company (NASDAQ: RGF), based in Cherry Hill, NJ, received a Nasdaq notification on May 17, 2024, regarding non-compliance with Listing Rule 5250(c)(1) due to the delayed filing of its Quarterly Report for Q1 2024. The company must submit a compliance plan by June 18, 2024. If accepted, Nasdaq may grant an extension until October 14, 2024. Currently, this notice does not affect the company's listing on Nasdaq, but there is no guarantee of regaining compliance.
The Real Good Food Company (NASDAQ: RGF), a top player in health and wellness frozen and refrigerated foods, announced its participation in the 24th Annual B. Riley Institutional Investor Conference on May 22-23, 2024. The event, held at the Beverly Hilton Hotel in Beverly Hills, California, will feature a fireside chat and one-on-one meetings between the company's management and institutional investors. Registration is required for participation, and attendees can contact their B. Riley representative for more details.
The Real Good Food Company, Inc. (NASDAQ: RGF) appointed new senior executives to lead finance, procurement, supply chain, and business management. Jim Behling as CFO, John Bissett as Senior VP of Finance; Duane Diez as Senior VP of Procurement & Supply Chain; and Joe Laws as VP of Business Management. Channel retail sales data show a 110% increase in consumption of RGF products. The company extended its credit agreement and invested in expanding production capacity.
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