secwatch.observer — SEC 8-K summary
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Issuer:     BIOLIFE SOLUTIONS INC (BLFS)
CIK:        0000834365
Form:       8-K
Filed at:   2022-09-26T23:59:59+00:00
Accession:  0001437749-22-023053
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

BioLife Solutions enters up to $40M term loan facility with Silicon Valley Bank
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- Term loans up to $40M total; $10M conditional on achieving revenue milestones by June 30, 2023.
- Interest at greater of 5.75% or Prime plus 0.50% per annum; cap on rate increase of 1% above funding date rate.
- Principal repaid in 24 equal monthly installments starting July 1, 2024 (extendable to July 1, 2025); maturity June 1, 2026 (extendable to 2027).
- Prepayment penalty 2% in first year, 1% thereafter; final fee of 5.75% of aggregate principal.
- Security interest on all assets except intellectual property; subsidiaries SAVSU, Arctic Solutions, SciSafe, Global Cooling, Sexton Biotechnologies are co-borrowers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/834365/000143774922023053/0001437749-22-023053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/834365/000143774922023053/bioli20220923_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-023053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer