UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement
On June 24, 2025, U.S. Premium Beef, LLC (“USPB”) and CoBank, ACB (“CoBank”) entered into an Amended and Restated Revolving Term Promissory Note (the “A&R Note”). The A&R Note amended and restated the Amended and Restated Revolving Term Promissory Note, dated July 13, 2020, issued by the Company to CoBank, which had a scheduled maturity of June 30, 2025.
The A&R Note provides for a $1.0 million revolving term commitment. That commitment carries a term of five years, maturing on June 30, 2030. Amounts outstanding under the A&R Note bear interest at 2.6% plus the higher of 0.00% and Daily Simply SOFR (as defined in the Promissory Note).
USPB may request that the amount of the revolving loan commitment be increased by an aggregate amount of up to $30,000,000. Any requested increase must be for at least $5,000,000 and advancing such amount will be at the discretion of CoBank.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following are filed as Exhibits to this Report:
| Exhibit No. | Description | |
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10.1 |
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| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| U.S. PREMIUM BEEF, LLC | |
| By: /s/ Stanley D Linville | |
| Stanley D. Linville | |
| Chief Executive Officer |
Date: July 16, 2025
| 2 |