secwatch.observer — SEC 8-K summary
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Issuer:     Vericel Corp (VCEL)
CIK:        0000887359
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0001104659-22-085173
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vericel enters $150M senior secured revolving credit facility due 2027
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- $150 million five-year senior secured revolver; matures July 29, 2027.
- Facility secured by first-priority lien on substantially all assets; includes $5M swingline and $15M letter of credit sub-facility.
- Interest rate options: SOFR + 0.10% plus spread 1.25%-2.50%, or base rate plus 0.25%-1.50%.
- Proceeds for general corporate purposes, including acquisitions and capex.
- Commitment fee 0.20%-0.25%; financial covenants including max total net leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887359/000110465922085173/0001104659-22-085173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887359/000110465922085173/tm2222324d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-085173

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