---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-211548"
form_type: "8-K"
ticker: "EBS"
cik: "0001367644"
company_name: "Emergent BioSolutions Inc."
filed_at: "2024-09-03T23:59:59+00:00"
generated_at: "2026-05-31T06:35:38.013237+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Emergent BioSolutions closes $250M term loan with Oak Hill Advisors; extends maturity to 2029

## Summary
- $250M term loan drawn in full, matures August 2029; used to repay existing senior term loan due May 2025 and terminate revolver.
- Issued warrants for 2.5M shares at 110% and 175% of 30-day VWAP; agreed to issue $10M in common stock at VWAP.
- Interest at SOFR+8.25% or Base Rate+7.25%; default rate +2%; covenants include $75M minimum liquidity and leverage ratio tests.
- New facility expected to reduce net debt by >$200M in 2024; management cites greater operational flexibility for turnaround.
- Oak Hill Advisors serves as lead agent; company to participate in Wells Fargo and H.C. Wainwright conferences in September.

## SEC filing metadata
- accession: 0001193125-24-211548
- form_type: 8-K
- ticker: EBS
- cik: 0001367644
- company_name: Emergent BioSolutions Inc.
- filed_at: 2024-09-03T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1367644/000119312524211548/0001193125-24-211548-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1367644/000119312524211548/d873622d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-211548
- JSON: https://secwatch.observer/filing/0001193125-24-211548.json
- Plain text: https://secwatch.observer/filing/0001193125-24-211548.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.