Veradigm (MDRX) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Veradigm Inc. and its subsidiary Veradigm LLC amended their credit agreement, reducing their revolving loan commitment from $700 million to $400 million and the maximum incremental credit facility from $350 million to $200 million, while eliminating the ratio-based amount. The amendment also provides an additional period for the company to submit financial statements until September 30, 2024, introduces a minimum liquidity covenant of $350 million, and enforces the highest pricing tier during this relief period. The company currently has an available borrowing capacity of approximately $400 million.
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For a comprehensive understanding of the announcement, you can read the full document here.