Aziyo Biologics extends minimum liquidity step-up date under $25M credit agreement to Dec 16, 2022

ELUTIA INC.

Amendment moves the minimum liquidity step-up date from November 21, 2022 to December 16, 2022.
Credit agreement provides $25M senior secured term loans (including $4M conditional on metrics).
Company must maintain $5.0M minimum liquidity until step-up date; thereafter greater of $5.0M or prior two quarters' operating burn.
Borrower represented no default or event of default exists as of the amendment date.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ELUTIA INC. amended Amendment Letter with SWK Funding LLC, as agent (effective 2022-11-21).

Action: amendment
Agreement: credit facility
Counterparty: SWK Funding LLC, as agent
Effective: 2022-11-21

Exact text from the filing

On November 21, 2022, Aziyo Biologics, Inc. (the “Company”) entered into an amendment letter (the “Amendment Letter”) to the Credit Agreement, dated as of August 10, 2022 (as amended by the letter agreement dated as of October 9, 2022 and the letter agreement dated as of November 10, 2022, the “Credit Agreement”), by and among the Company, as the Borrower, and its subsidiaries, the financial institutions party thereto from time to time as lenders, and SWK Funding LLC, as agent.

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Source: SEC EDGAR

accession 0001104659-22-122474

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