Establishment Labs amends credit agreement; extends Tranche C/D deadlines, raises rate to 10%

ESTABLISHMENT LABS HOLDINGS INC.

Commitment termination dates extended: Tranche C to Dec 31, 2024 (from Mar 31, 2024); Tranche D to Jun 30, 2025 (from Dec 31, 2024).
Interest rate on Tranche C and D loans increased from 9.0% to 10.0% per annum.
Tranche C funding now conditional on FDA approval of Motiva Implants for U.S. augmentation; $185M sales alternative removed.
Tranche D milestone reduced to $195M trailing sales (from $225M); funding of Tranche C is a prerequisite.
Prepayment premium revised: make-whole plus 4% for any prepayment within one year after advance.

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

ESTABLISHMENT LABS HOLDINGS INC. amended Second Amendment to Credit Agreement and Guaranty with Oaktree Fund Administration, LLC, as administrative agent, and the other parties thereto (effective 2024-02-21).

Action: amendment
Agreement: credit facility
Counterparty: Oaktree Fund Administration, LLC, as administrative agent, and the other parties thereto
Effective: 2024-02-21

Exact text from the filing

On February 21, 2024, Establishment Labs Holdings Inc. (the “Company”) entered into a Second Amendment to Credit Agreement and Guaranty with Oaktree Fund Administration, LLC, as administrative agent, and the other parties thereto (the “Amendment”), which amends the terms of that certain Credit Agreement and Guaranty, dated as of April 26, 2022

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ESTABLISHMENT LABS HOLDINGS INC. filing history →

Source: SEC EDGAR

accession 0001688757-24-000015

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