Eagle Pharmaceuticals extends financial statement deadline to Jul 31, 2024; revolver cut to $50M

EAGLE PHARMACEUTICALS, INC.

Annual audited 2023 financials, restated Q2 2023, Q3 2023, and Q1 2024 statements due July 31, 2024, per Third Amendment.
Revolving commitment permanently reduced from $100M to $50M; availability restriction superseded by permanent cut.
Minimum liquidity covenant reduced from $50M to $10M; prior liquidity covenant waiver terminated.
Covenant flexibility restriction continues until all financials delivered; failure to meet deadline is an event of default.
Credit obligations secured by substantially all assets; default could lead to acceleration and foreclosure.

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

EAGLE PHARMACEUTICALS, INC. amended Third Amendment to Third Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto valued at permanent reduction of availability under the revolving facility under the Amended Credit Agreement (effective 2024-05-14).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto
Value: permanent reduction of availability under the revolving facility under the Amended Credit Agreement
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024 (the “Amendment Date”), Eagle Pharmaceuticals, Inc. (the “Company”), entered into a Third Amendment to Third Amended and Restated Credit Agreement (the “Third Amendment Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent (the “Agent”), and the lenders party thereto (the “Lenders”), with an effective date of May 13, 2024

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Source: SEC EDGAR

accession 0001104659-24-061683

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