Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Avid Bioservices, Inc. amended revolving credit with Bank of America, N.A. at a term SOFR rate for a specified interest period plus a SOFR adjustment (equal t maturing October 25, 2024.
- Instrument
- revolving credit
- Counterparty
- Bank of America, N.A.
- Rate
- a term SOFR rate for a specified interest period plus a SOFR adjustment (equal t
- Maturity
- October 25, 2024
- Event
- amendment
Exact text from the filing
The Amendment, among other things, (a) extends the maturity date of the revolving credit facility (“Credit Facility”) to October 25, 2024, (b) amends the applicable interest rate applied to loans under the Credit Facility as described below, and (c) increases the aggregate amount of indebtedness the Company can incur at any one time for fixed or capital assets.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Avid Bioservices, Inc. amended Amendment No. 1 to the Credit Agreement with Bank of America, N.A., as administrative agent (effective 2023-10-27).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A., as administrative agent
- Effective
- 2023-10-27
Exact text from the filing
On October 27, 2023, Avid Bioservices, Inc. (the “Borrower” and “Company”), entered into Amendment No. 1 to the Credit Agreement (the “Amendment”) among the Borrower, the Lenders (as defined in the Credit Agreement), and Bank of America, N.A., as administrative agent, which amends the Credit Agreement dated as of March 14, 2023 (the “Credit Agreement”)
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