tiprankstipranks
Emergent BioSolutions Secures $250M Loan and Adjusts Equity
Company Announcements

Emergent BioSolutions Secures $250M Loan and Adjusts Equity

Don't Miss our Black Friday Offers:

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.

Related Articles
TheFlyWHO determines mpox upsurge still constitutes public health emergency
TheFlyEmergent BioSolutions files to sell 3.61M shares of common stock for holders
TheFlyBiotech Alert: Searches spiking for these stocks today
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App