ELUTIA INC. (ELUT): debt financing — Aziyo Biologics draws additional $4M term loan, total borrowings reach $25M

ELUTIA INC.

Drew $4.0 million Subsequent Term Loan under existing Credit Agreement on December 13, 2022.
Total borrowings now $25 million, comprising $21M initial term loan, $4M draw, and ~$0.3M paid-in-kind interest.
Credit Agreement dated August 10, 2022 with SWK Funding LLC as administrative agent.

item 2.03 item 1.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ELUTIA INC. incurred term loan of $4.0 million with SWK Funding LLC.

Instrument: term loan
Principal: $4.0 million
Counterparty: SWK Funding LLC
Event: incurrence

Exact text from the filing

On December 13, 2022, Aziyo Biologics, Inc. (the “Company”) elected to draw the additional term loan of $4.0 million (the “Subsequent Term Loan”) under its previously disclosed Credit Agreement, dated as of August 10, 2022 (as amended, restated, supplemented, or otherwise modified prior to the date hereof, the “Credit Agreement”), by and among the Company, as the Borrower, and its subsidiaries, as the other loan parties, the financial institutions party thereto from time to time as lenders, and SWK Funding LLC, as administrative agent and collateral agent for all lenders.

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Source: SEC EDGAR

accession 0001104659-22-127167

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