Emergent Biosolutions (EBS) has issued an update.
Emergent BioSolutions Inc. secured a $250 million term loan on August 30, 2024, with lenders and OHA Agency LLC as the administrative agent. The loan, featuring options for Base Rate or Term SOFR Loans, carries an interest rate with a floor and a potential default rate increment. It is set to mature on August 30, 2029, or earlier under certain conditions. The loan is backed by a priority lien on the company’s assets and includes covenants such as minimum liquidity and leverage ratio requirements. Alongside, the company issued warrants and agreed to issue common stock to the lenders, with provisions to register these for resale, and settled its previous senior term loan.
For detailed information about EBS stock, go to TipRanks’ Stock Analysis page.
