Item 1.01. Entry into a Material Definitive Agreement.
Amendment to Existing Credit Facility
On
The term loans under the Amended Credit Agreement accrue interest at a variable
rate of the greater of 2.0% or the three-month LIBOR, with a maximum variable
rate of 3%, plus a margin of between 7.5% and 10.25% depending on the Company's
earnings before interest, taxes, depreciation and amortization or market
capitalization, payable quarterly. Under the Amended Credit Agreement, the
Company and Solsys are required to make quarterly principal payments beginning
in May, 2022 of
The obligations under the Amended SWK Credit Agreement are (i) guaranteed by
The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is attached as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 10.1 Third Amendment to Amended and Restated Credit Agreement dated as ofDecember 16, 2020 by andAmong Solsys Medical, LLC andMisonix, Inc. as borrowers, each of the financial institutions signatories thereto andSWK Funding LLC , as administrative agent 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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