Elutia amends credit agreement, reducing minimum revenue covenant to $20M from $41M

ELUTIA INC.

Second Amendment with SWK Funding LLC lowers minimum Aggregate Revenue to $20M for trailing twelve months from Q1 2024 onward.
Previous covenant was $41M for Q2 2023 and each subsequent quarter; now reduced to $20M.
Amendment executed March 27, 2024; filed as Exhibit 10.1 on April 1, 2024.
No other material terms changed; CFO Matt Ferguson signed on behalf of Elutia.

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

ELUTIA INC. amended Second Amendment with SWK Funding LLC (effective 2024-03-27).

Action: amendment
Agreement: credit facility
Counterparty: SWK Funding LLC
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Elutia Inc., a Delaware corporation (the “Company”), entered into a Second Amendment (the “Amendment”) to that certain Credit Agreement, dated as of August 10, 2022, by and among the Company, as Borrower, SWK Funding LLC, as Agent, and the lenders from time to time party thereto (as amended and supplemented from time to time, the “SWK Facility”).

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Source: SEC EDGAR

accession 0001558370-24-004550

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