MIMEDX GROUP, INC. (MDXG): debt financing — MiMedx closes $95M senior secured credit facilities; reduces interest expense

MIMEDX GROUP, INC.

New facilities: $75M revolver + $20M term loan, due Jan 2029.
Drew $50M at closing; proceeds repaid existing Hayfin credit facility (maturity June 2025).
Interest rates: SOFR + 2.25%-3.50% or base rate +1.25%-2.50%.
CFO states refinancing improves capital structure, provides borrowing capacity for growth.
Arranged by Citizens Bank and Bank of America; Hayfin agreement terminated.

item 1.01 item 1.02 item 2.03 item 7.01 item 9.01

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

MIMEDX GROUP, INC. incurred revolving credit of $75.0 million senior secured revolving credit facility with Citizens Bank, N.A. at Alternate Base Rate plus an applicable margin ranging from 1.25% and 2.50% or Te maturing January 19, 2029.

Instrument: revolving credit
Principal: $75.0 million senior secured revolving credit facility
Counterparty: Citizens Bank, N.A.
Rate: Alternate Base Rate plus an applicable margin ranging from 1.25% and 2.50% or Te
Maturity: January 19, 2029
Event: incurrence

Exact text from the filing

a customary security agreement. The Credit Agreement provides for senior secured credit facilities in an aggregate principal amount of up to $95.0 million consisting of: (i) a $75.0 million senior secured revolving credit facility (the “Revolving Credit Facility”) with a $10.0 million letter of credit sublimit and a $10.0 million swingline loan sublimit, and (ii) a

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

MIMEDX GROUP, INC. incurred term loan of $20.0 million senior secured term loan facility with Citizens Bank, N.A. at Alternate Base Rate plus an applicable margin ranging from 1.25% and 2.50% or Te maturing January 19, 2029.

Instrument: term loan
Principal: $20.0 million senior secured term loan facility
Counterparty: Citizens Bank, N.A.
Rate: Alternate Base Rate plus an applicable margin ranging from 1.25% and 2.50% or Te
Maturity: January 19, 2029
Event: incurrence

Exact text from the filing

On January 19, 2024, the Company borrowed $30.0 million under the Revolving Credit Facility and $20.0 million under the Term Loan Facility.

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

MIMEDX GROUP, INC. entered into Credit Agreement with Citizens Bank, N.A., as administrative agent, and the lenders party thereto valued at aggregate principal amount of up to $95.0 million (effective 2024-01-19).

Action: entry
Agreement: credit facility
Counterparty: Citizens Bank, N.A., as administrative agent, and the lenders party thereto
Value: aggregate principal amount of up to $95.0 million
Effective: 2024-01-19

Exact text from the filing

On January 19, 2024, MiMedx Group, Inc. (the “Company”) entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto (the “Lenders”) and Citizens Bank, N.A., as administrative agent (the “Agent”).

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

MIMEDX GROUP, INC. terminated Hayfin Credit Agreement with Hayfin Services LLP, as administrative and collateral agent, and the lenders party thereto (effective 2024-01-19).

Action: termination
Agreement: credit facility
Counterparty: Hayfin Services LLP, as administrative and collateral agent, and the lenders party thereto
Effective: 2024-01-19

Exact text from the filing

The Hayfin Credit Agreement was simultaneously terminated and the guarantees and liens related thereto were released upon the repayment in full of all of the outstanding obligations under the Hayfin Credit Agreement.

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283 debt financings filed in the last 30 days. Browse all debt financings →

MIMEDX GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-011707

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