Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ANGIODYNAMICS INC incurred revolving credit of $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. at Adjusted Term SOFR plus 2.00% or ABR plus 1.00% maturing May 28, 2027.
- Instrument
- revolving credit
- Principal
- $25 million secured revolving credit facility
- Counterparty
- JPMorgan Chase Bank, N.A.
- Rate
- Adjusted Term SOFR plus 2.00% or ABR plus 1.00%
- Maturity
- May 28, 2027
- Event
- incurrence
Exact text from the filing
The Credit Agreement provides for a $25 million secured revolving credit facility (the “ Revolving Facility ”) with a maturity date of May 28, 2027, which is subject to a borrowing base comprised of certain working capital assets of the Company. Additionally, until such time as the Company has demonstrated a fixed charge coverage ratio greater than 1:10 to 1.00, the Revolving Facility will be further reduced by $5,000,000 (such period, the “ Availability Block Period ”). To the extent requested by the Company, and subject to certain customary limitations, the lenders will make revolving loan advances to the Company and the issuing bank will issue letters of credit for the account of the Company, in each case in an aggregate amount not exceeding the availability under the Revolving Facility. Issuances of letters of credit under the Revolving Facility shall further be limited by an issuance cap, which as at the closing date is set at $2,000,000. The proceeds of the Revolving Facility
View on SEC.gov