Micron Solutions, Inc. Enters into an Amended Credit Facility with Its Institutional Lender Berkshire Bank
March 30, 2022 at 05:34 pm EDT
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Micron Solutions, Inc. announced that it has entered into an amended Credit Facility with its institutional lender Berkshire Bank. The terms of the amendment include a waiver of the debt service coverage covenant for the period ending December 31, 2021 and the prior quarter, a waiver of the tangible capital base covenant for the period ending December 31, 2021, a resetting of the covenants to levels that Micron projects to be compliant with, and a modification in the maximum amount of availability under the revolving and equipment facilities. The revised credit agreement also provides consent for Micron's Stock Repurchase Program under certain conditions.
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. 
