- Conversion of
US$5 million line of credit drawdown to 5-year term note - Renewal and expansion of Acquisition Line of Credit to
US$8.0 million - Extension of
US$4.5 Million Operating Line of Credit
Highlights
- Conversion of acquisition line of credit drawdown to a 5-year, fixed rate term note effective
July 23 :- Interest rate fixed at 3.32% per annum for the life of the loan
- Amortizing loan with fixed monthly principal payments of
US$83.3 thousand plus interest
- Operating line of credit provides for advances up to
US$4.5 million - Existing line extended to
July 31, 2023 , with annual renewals for additional one-year periods - Interest at prime rate
- No periodic paydowns required
- Bank advances based on borrowing base (eligible accounts receivable and inventory)
- Existing line extended to
- Acquisition line of credit provides for advances up to
US$8.0 million - Line increased from previous
US$5 million - Interest at prime rate
- Requires conversion to five year, fixed-rate term loans when balance exceeds
US$1 million - Bank advances up to 55% of target acquisition purchase price
- Line increased from previous
About
Hamilton Thorne is a leading global provider of precision instruments, consumables, software and services that reduce cost, increase productivity, improve results and enable breakthroughs in Assisted Reproductive Technologies (ART), research, and cell biology markets. Hamilton Thorne markets its products and services under the Hamilton Thorne, Gynemed, Planer, IVFtech,
Neither the
Certain information in this press release may contain forward-looking statements, including, without limitation, with respect to the projected impact of the transaction on the Company's revenue and future earnings. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements unless and until required by securities laws applicable to the Company. Additional information identifying risks and uncertainties is contained in filings by the Company with the Canadian securities regulators, which filings are available at www.sedar.com.
For more information, please contact:
978-921-2050 ir@hamiltonthorne.ltd | 978-921-2050 ir@hamiltonthorne.ltd | Bristol Investor Relations 416-737-4467 glen@bristolir.com |
Source:
2021 GlobeNewswire, Inc., source