Rocky Mountain Chocolate Factory, Inc. filed a Form 8-K on October 19, 2026, disclosing a $2.0 million term loan with Alpine Bank, the completed sale-leaseback of its Durango, Colorado headquarters for $6.6 million, and the release of quarterly operating results for the three months ended August 31, 2026.

Key Highlights

  • $2.0 million term loan: Rocky Mountain Chocolate Factory entered into a Business Loan Agreement with Alpine Bank on October 16, 2026, with the full amount funded the same day for working capital purposes.
  • Loan maturity and interest rate: The Alpine Loan matures on October 16, 2028, and bears interest at the JP Morgan Chase Bank prime rate plus 1.00%, with a floor of 6.00% and a ceiling of 24.00% per annum.
  • Loan fees paid: The company paid a $20,000 loan origination fee and a $30,000 cash collateral fee to the Colorado Housing and Finance Authority in connection with the Alpine Loan.
  • Durango property sold for $6.6 million: The company completed the sale of its 265 Turner Drive property to American Heritage Legacies, LLC on October 16, 2026, and simultaneously began leasing the property back.
  • Prior debt fully repaid: Net proceeds from the property sale were used to repay approximately $6.6 million of principal and accrued interest under previously disclosed notes, leaving the company with no further obligations under those notes.
  • Related-party connection: American Heritage Legacies, LLC is described in the filing as "a company controlled by the family of Allen Harper, the Company's Interim Chief Executive Officer."
  • Quarterly results released: A press release reporting results for the three months ended August 31, 2026, was issued on October 19, 2026, and attached as Exhibit 99.1.

Rocky Mountain Chocolate Factory Completes Alpine Bank Financing and Durango Sale-Leaseback

According to the filing, Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) entered into three loan documents with Alpine Bank on October 16, 2026: a Business Loan Agreement, a Promissory Note referred to as the Alpine Note, and a Commercial Security Agreement. The $2.0 million term loan was fully funded on the date of signing, with the company stating it intends to use the proceeds for working capital. Monthly interest payments are required beginning November 16, 2026, with all outstanding principal and accrued interest due at maturity on October 16, 2028. The company disclosed it may prepay the Alpine Loan at any time without penalty.

The Alpine Loan is secured by a security interest in substantially all of the company's assets and personal property, and is further secured by an assignment to Alpine Bank of a deposit account of approximately $1.0 million held by the Colorado Housing and Finance Authority at Alpine Bank. The filing states that loan covenants restrict the company, without Alpine Bank's consent, from incurring additional indebtedness, granting liens, merging or consolidating, selling assets outside the ordinary course of business, and paying dividends or repurchasing shares. Events of default include, among others, payment defaults, covenant defaults, insolvency events, a material adverse change in financial condition, and any change in ownership of 25% or more of the company's common stock.

Separately, the filing confirmed the October 16, 2026, completion of the previously announced sale of the company's Durango, Colorado property at 265 Turner Drive to American Heritage Legacies, LLC for $6.6 million. The net proceeds were applied to repay in full approximately $6.6 million of principal and accrued interest under previously outstanding notes. The filing notes that the buyer is a company controlled by the family of Allen Harper, the company's Interim Chief Executive Officer. The commercial lease on the property commenced simultaneously with the sale closing.

What Was Disclosed

The Form 8-K reported a $2.0 million Alpine Bank term loan funded October 16, 2026, the completed $6.6 million sale-leaseback of the Durango headquarters to a related party, full repayment of prior outstanding notes, and the issuance of quarterly financial results for the period ended August 31, 2026.