bluebird bio amends loan agreement due to financial restatement delays

bluebird bio, Inc.

Amended Loan and Security Agreement with Hercules Capital to revise monthly reporting metrics for March-June 2024.
Extended deadlines for 2023 10-K and Q1 2024 10-Q filings; late delivery won't trigger covenant violation if deadlines met.
Amendment stems from ongoing restatement of FY2022 and first three quarters of 2023 and 2022 financials.
Company anticipates delays in filing both 2023 10-K and Q1 2024 10-Q due to restatement procedures.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

bluebird bio, Inc. amended Loan and Security Agreement with Hercules Capital, Inc. valued at Amendment to Loan and Security Agreement to revise monthly financial reporting metrics and extend de (effective 2024-04-30).

Action: amendment
Agreement: credit facility
Counterparty: Hercules Capital, Inc.
Value: Amendment to Loan and Security Agreement to revise monthly financial reporting metrics and extend de
Effective: 2024-04-30

Exact text from the filing

On April 30, 2024, bluebird bio, Inc. (the “Company”) entered into an amendment (the “Amendment”) to its Loan and Security Agreement (the “LSA”), dated as of March 15, 2024, by and among the Company, the several banks and other financial institutions or entities party thereto, as lenders (collectively, the “ Lenders”), and Hercules Capital, Inc., as administrative agent and collateral agent (the “Agent”).

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Source: SEC EDGAR

accession 0001293971-24-000017

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