Micron Products, Inc. and Micron Solutions, Inc. Enters into Fourth Amendment and Waiver to Credit and Security Agreement
March 16, 2020 at 05:04 pm EDT
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Micron Solutions, Inc. and Rockland Trust Company (“Lender”) entered into the Fourth Amendment and Waiver to Credit and Security Agreement (the “Agreement”) as of March 12, 2020. Pursuant to the Agreement, the Lender amended the quarterly debt service coverage ratio measurement requirements for the first three quarters of 2020. In addition, effective as of the date of occurrence, the Lender waived Micron’s non-compliance with the fourth quarter 2019 debt service coverage ratio covenant. This Fourth Amendment and Waiver to Credit and Security Agreement (this “Amendment”) is dated as of March 12, 2020 by and among MICRON PRODUCTS INC. ("Borrower"), MICRON SOLUTIONS, INC. (“Guarantor” and, together with Borrower, each an “Obligor” and collectively, the “Obligors”), and ROCKLAND TRUST COMPANY ("Lender").
Micron Solutions, Inc. is a diversified contract manufacturing organization (CMO). The Company, through its subsidiary, Micron Products, Inc., produces medical devices, military, and consumer components and assemblies requiring precision machining and custom injection molding. The Company provides design, engineering, quality and regulatory across the Companyâs three product lines: machining, thermoplastic injection molding and sensors. It machines components for implants and instruments for medical devices, including large joint replacements, wrist plates, rib fixation plates, and screws. Its custom thermoplastic injection molding services meet the needs of customers who require clean room molding, in-cycle vision inspection, assembly and packaging to tight tolerances using engineered materials. Its other value-added services include pad printing, ultrasonic welding, stamping, laser marking, clean room molding, clean room assembly, specialty coatings, plastic machining and others.
MICRON SOLUTIONS, INC. 
