ADMA Biologics amends Hayfin credit agreement, cuts rate by 1%, extends $25M delayed draw loan

ADMA BIOLOGICS, INC.

Interest rate reduced 1% to SOFR + 8.50%; up to 2.50% interest may be paid in kind.
New 50% waiver of prepayment fee on acquisition or strategic transactions within 24 months.
Delayed draw term loan of $25M extended from June 30, 2023 to December 31, 2023.
Issued warrants for 2,391,244 shares at $3.2619 per share, expiring May 1, 2030.
Total debt level unchanged; company cites strengthened financial outlook.

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

ADMA BIOLOGICS, INC. amended Amendment No. 2 with Hayfin Services LLP and the lenders identified therein (effective 2023-05-01).

Action: amendment
Agreement: credit facility
Counterparty: Hayfin Services LLP and the lenders identified therein
Effective: 2023-05-01

Exact text from the filing

On May 1, 2023 (the “Amendment Closing Date”), ADMA Biologics, Inc. (the “Company”) entered into Amendment No. 2 (the “Amendment”) to the Credit Agreement and Guaranty, dated as of March 23, 2022, as previously amended by that certain Amendment No. 1 to the Credit Agreement and Guaranty, dated as of March 22, 2023 (the “Hayfin Credit Agreement”), with Hayfin Services LLP and the lenders identified therein (collectively, “Hayfin”).

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ADMA BIOLOGICS, INC. filing history →

Source: SEC EDGAR

accession 0001140361-23-022312

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