--- schema_version: "secwatch.filing_event.v1" accession: "0000012208-24-000005" form_type: "8-K" ticker: "BIO" cik: "0000012208" company_name: "BIO-RAD LABORATORIES, INC." filed_at: "2024-02-14T23:59:59+00:00" generated_at: "2026-06-06T02:06:11.488750+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # Bio-Rad enters $200M credit facility; CEO Schwartz appointed interim CFO after Daskal departure ## Summary - New $200M revolving credit facility with Wells Fargo, matures Feb 13, 2029; replaces prior $200M facility. - CFO Ilan Daskal resigned effective Nov 6, 2023; CEO Norman Schwartz appointed interim principal financial officer on Feb 9, 2024. - Facility includes leverage ratio covenant of 3.50x; interest rates based on SOFR plus margin. - Outstanding obligations under prior credit agreement repaid in full on Feb 14, 2024 with no penalties. ## SEC filing metadata - accession: 0000012208-24-000005 - form_type: 8-K - ticker: BIO - cik: 0000012208 - company_name: BIO-RAD LABORATORIES, INC. - filed_at: 2024-02-14T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 1.01, 1.02, 2.03, 5.02, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/bio-20240209.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000012208-24-000005 - JSON: https://secwatch.observer/filing/0000012208-24-000005.json - Plain text: https://secwatch.observer/filing/0000012208-24-000005.txt ## Key facts - Debt Financings BIO-RAD LABORATORIES, INC. incurred revolving credit of $200,000,000 with Wells Fargo Bank, National Association, as agent at Term SOFR plus 0.10% per annum plus the Applicable Margin maturing February 13, 2029. - Instrument: revolving credit - Principal: $200,000,000 - Counterparty: Wells Fargo Bank, National Association, as agent - Rate: Term SOFR plus 0.10% per annum plus the Applicable Margin - Maturity: February 13, 2029 - Event: incurrence source text: all commitments thereunder. No penalties were due in connection with such repayments. Borrowings under the Revolving Credit Agreement are permitted up to a maximum amount of $200,000,000 on a revolving basis, including up to $25,000,000 of letters of credit. Borrowings of revolving loans may be made, at the Borrowers’ election, in U.S. dollars, Euros, Swiss evidence_url: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm - Executive change Norman Schwartz was appointed as principal financial officer at BIO-RAD LABORATORIES, INC.. - Action: appointed - Role: principal financial officer source text: On February 9, 2024, the Company’s board of directors appointed Norman Schwartz, the Company’s President and Chief Executive Officer and the Chairman of the Board, as the Company’s principal financial officer until a permanent replacement for Mr. Daskal has been appointed. evidence_url: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm - Executive change Ilan Daskal resigned as Executive Vice-President, Chief Financial Officer at BIO-RAD LABORATORIES, INC.. - Action: resigned - Role: Executive Vice-President, Chief Financial Officer source text: Ilan Daskal resigned from his position as the Company’s Executive Vice-President, Chief Financial Officer and the Company’s principal financial officer in order to pursue other opportunities. evidence_url: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm - Material Agreements BIO-RAD LABORATORIES, INC. entered into Revolving Credit Agreement with Wells Fargo Bank, National Association, as agent valued at $200,000,000 (effective 2024-02-13). - Action: entry - Agreement: credit facility - Counterparty: Wells Fargo Bank, National Association, as agent - Value: $200,000,000 - Effective: 2024-02-13 source text: Bio-Rad Laboratories, Inc. (the “Company”) entered into a Credit Agreement dated as of February 13, 2024 (the “Revolving Credit Agreement”), by and among the Company, Bio-Rad Europe GmbH, Bio-Rad IHC Europe GmbH and Bio-Rad Laboratories (Singapore) Pte Ltd (collectively, the “Borrowers”), the lenders referred to therein, and Wells Fargo Bank, National Association, as agent. evidence_url: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm - Material Agreements BIO-RAD LABORATORIES, INC. terminated Previous Revolving Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., HSBC Bank USA, National Association, and MUFG Bank, Ltd. as co-syndication agents, and Citibank, N.A. and Wells Fargo Bank, National Association as co-documentation agents (effective 2024-02-14). - Action: termination - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., HSBC Bank USA, National Association, and MUFG Bank, Ltd. as co-syndication agents, and Citibank, N.A. and Wells Fargo Bank, National Association as co-documentation agents - Effective: 2024-02-14 source text: The Company repaid in full all outstanding obligations under the Previous Revolving Credit Agreement on February 14, 2024 and terminated all commitments thereunder. evidence_url: https://www.sec.gov/Archives/edgar/data/12208/000001220824000005/0000012208-24-000005-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.