Mesa Laboratories draws $97M under credit facility to repay convertible notes due August 2025

MESA LABORATORIES INC /CO/

Drew $97M under existing Credit Agreement to settle $97.5M of 1.375% Convertible Senior Notes maturing August 2025; total outstanding under credit facility now $108M.
Interest rate on credit facility currently 7.18%, expected to decrease with Fed rate reductions and an additional 25 bps when net leverage ratio falls below 3.0x (expected by Q3 FY2026).
Total net leverage ratio was 3.16 as of June 30, 2025; expected principal payments of ~$20M in Q2–Q4 FY2026 with higher payments in FY2027.

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