secwatch.observer — SEC 8-K summary
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Issuer:     Bioventus Inc. (BVS)
CIK:        0001665988
Form:       8-K
Filed at:   2022-07-12T23:59:59+00:00
Accession:  0001628280-22-018848
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bioventus closes CartiHeal acquisition for $315M upfront; $80M term loan funded
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- Acquired CartiHeal for ~$315M upfront plus up to $135M in sales milestone earn-outs.
- Acquisition closed July 12, 2022; $100M paid at closing, $215M deferred in tranches through 2027.
- Funded part of purchase with $80M term loan (2022-1 Term Loans) maturing Oct 29, 2026.
- Term loan bears interest at SOFR + 3.25% or Base Rate + 2.25% with leverage-based margins.
- Credit agreement amended; financial covenants include max leverage 4.75x and min interest coverage 2.25x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1665988/000162828022018848/0001628280-22-018848-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1665988/000162828022018848/bvs-20220712.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-018848

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