Mustang Bio amends $75M loan agreement to replace LIBOR with SOFR-based rates

MUSTANG BIO, INC.

First Amendment to $75M Loan Agreement with Runway Growth Finance Corp., dated Dec 7, 2022.
Replaces LIBOR with Adjusted Term SOFR Rate (Term SOFR + 0.26%, floor 0.50%).
Applicable Margin of 8.75% when using Adjusted Term SOFR Rate; total rate floor of 9.25%.
Amendment includes fallback provisions if SOFR unavailable (Prime Rate alternative).
No change to principal amount or maturity; loan terms otherwise unchanged.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

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

MUSTANG BIO, INC. amended First Amendment with Runway Growth Finance Corp. (effective 2022-12-07).

Action: amendment
Agreement: credit facility
Counterparty: Runway Growth Finance Corp.
Effective: 2022-12-07

Exact text from the filing

On December 7, 2022, the Company entered into the First Amendment (the “First Amendment”) to the Loan Agreement by and between the Company and Runway.

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Source: SEC EDGAR

accession 0001558370-22-018593

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