|
The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
MidCap Financial Provides $20MM Financing to Xtant Medical
|
Lenders/Participants
|
MidCap Financial Trust [Lender]
|
|
Structure
|
$8MM Revolver; $12MM Term Loan
|
|
Amount
|
$20.000
Million
|
|
Borrower(s)
|
Xtant Medical Holdings
|
|
Description
|
The credit agreements provide for a $12 million secured term loan at a per annum interest rate of 7.00%, plus one-month LIBOR, and an $8 million secured revolving credit facility at a per annum interest rate of 4.50%, plus one-month LIBOR. Both facilities have a five-year term. These new credit agreements replace the Company’s second amended and restated credit agreement, as subsequently amended, with OrbiMed Royalty Opportunities II, LP as lender (in such capacity, “OrbiMed”). The indebtedness incurred, and all other other obligations of the Company and its subsidiaries owed, under the credit agreement provided by OrbiMed were repaid in full and terminated using proceeds of loans received under the credit agreements with MidCap. Following such repayment to OrbiMed, additional availability under the revolving credit facility with MidCap is available for working capital needs and other corporate purposes.
|
|
Industry
|
Medical
|
| Related Tags |
MidCap Financial, MidCap Financial Trust
|
ABL Advisor
Deal Tables
2024
|
|
|
|