8-K
filed January 5, 2024, 6:59 PM ET
ticker LFCR
CIK 0001005286
other material
confidence high
sentiment neutral
materiality 0.65
Lifecore expands Alcon CDMO contract through 2031; receives credit waivers on delayed reports
LIFECORE BIOMEDICAL, INC. DE
- Entered 8-year Amended CMA with Alcon through Dec 2031 for aseptic manufacturing of ophthalmic devices.
- Alcon gets option to purchase new filter dryer to expand HA capacity; costs paid by Alcon.
- Alcon and BMO granted waivers on delayed financial reporting under Term Loan and Revolving Credit agreements.
- Strategic alternative review remains ongoing; no timetable or decision set.
- Company expects to file overdue 2023 10-K in near-term.
Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
LIFECORE BIOMEDICAL, INC. DE amended Limited Waiver and First Amendment to Credit and Guaranty Agreement with Alcon Research, LLC valued at Waiver of defaults and amendments to Term Loan Credit Agreement (effective 2023-12-31).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Alcon Research, LLC
- Value
- Waiver of defaults and amendments to Term Loan Credit Agreement
- Effective
- 2023-12-31
Exact text from the filing
On December 31, 2023, Lifecore Biomedical, Inc. (the “Company”) entered into (i) that certain Limited Waiver and First Amendment to Credit and Guaranty Agreement (the “Alcon Amendment”), by and among Alcon Research, LLC (“Alcon”), the Company, and certain subsidiaries of the Company, which amended that certain Credit and Guaranty Agreement, dated May 22, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the Alcon Amendment, the “Term Loan Credit Agreement”), by and among the Company, Curation Foods, Inc. (“Curation”) and Lifecore Biomedical Operating Company, Inc. (“Lifecore” and, together with the Company and Curation, the “Borrowers”), certain of the Company’s other subsidiaries, as guarantors, and Alcon, as administrative agent, collateral agent and lender, and (ii) that certain Limited Waiver and Sixth Amendment to Credit Agreement (the “BMO Amendment” and, together with the Alcon Amendment, the “Credit Agreement Amendments”) by and among
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
LIFECORE BIOMEDICAL, INC. DE amended Limited Waiver and Sixth Amendment to Credit Agreement with BMO Harris Bank, N.A. valued at Waiver of defaults and amendments to Revolving Credit Agreement (effective 2023-12-31).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- BMO Harris Bank, N.A.
- Value
- Waiver of defaults and amendments to Revolving Credit Agreement
- Effective
- 2023-12-31
Exact text from the filing
On December 31, 2023, Lifecore Biomedical, Inc. (the “Company”) entered into (i) that certain Limited Waiver and First Amendment to Credit and Guaranty Agreement (the “Alcon Amendment”), by and among Alcon Research, LLC (“Alcon”), the Company, and certain subsidiaries of the Company, which amended that certain Credit and Guaranty Agreement, dated May 22, 2023 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the Alcon Amendment, the “Term Loan Credit Agreement”), by and among the Company, Curation Foods, Inc. (“Curation”) and Lifecore Biomedical Operating Company, Inc. (“Lifecore” and, together with the Company and Curation, the “Borrowers”), certain of the Company’s other subsidiaries, as guarantors, and Alcon, as administrative agent, collateral agent and lender, and (ii) that certain Limited Waiver and Sixth Amendment to Credit Agreement (the “BMO Amendment” and, together with the Alcon Amendment, the “Credit Agreement Amendments”) by and among
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
LIFECORE BIOMEDICAL, INC. DE amended Amendment No. 1 to Amended and Restated Supply Agreement with Alcon Research, LLC valued at Amendment providing Alcon option to purchase a filter dryer; revised capacity and purchase commitmen (effective 2023-12-31).
- Action
- amendment
- Agreement
- supply
- Counterparty
- Alcon Research, LLC
- Value
- Amendment providing Alcon option to purchase a filter dryer; revised capacity and purchase commitmen
- Effective
- 2023-12-31
Exact text from the filing
On December 31, 2023, the Company entered into Amendment No. 1 (the “Supply Agreement Amendment”) to that certain Amended and Restated Supply Agreement (the “Supply Agreement”), dated May 3, 2023, with Alcon, related to the Company’s manufacture and supply of sodium hyaluronate (“HA”) for Alcon.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
LIFECORE BIOMEDICAL, INC. DE entered into Amended and Restated Contract Manufacturing Agreement with Alcon Research, LLC valued at Amended and restated contract manufacturing agreement; initial term expires December 31, 2031 (effective 2023-12-31).
- Action
- entry
- Agreement
- supply
- Counterparty
- Alcon Research, LLC
- Value
- Amended and restated contract manufacturing agreement; initial term expires December 31, 2031
- Effective
- 2023-12-31
Exact text from the filing
On December 31, 2023, the Company entered into that certain Amended and Restated Contract Manufacturing Agreement (the “Amended and Restated CMA”), with Alcon, which amended and restated the existing contract manufacturing agreement between the Company and Alcon related to the Company’s aseptic manufacturing of a variety of ophthalmic viscoelastic injection devices.
View on SEC.gov
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