On October 31, 2023 Myriad Genetics, Inc. (the "Company") reported to have entered into an amendment (the "Amendment") to (i) its original credit agreement (the "Original Credit Agreement") dated as of June 30, 2023, with the lenders from time to time party thereto, certain of the Company’s domestic subsidiaries party thereto (the "Guarantors"), and JP Morgan Chase Bank, N.A., as Administrative Agent (in such capacity, "Administrative Agent") and as Issuing Bank, consisting of a revolving credit facility in an initial maximum principal amount of $90,000,000, with an option to increase the maximum principal amount by up to $25,000,000 and (ii) its original pledge and security agreement (the "Original Security Agreement") dated as of June 30, 2023, with the other grantors party thereto and the Administrative Agent (Filing, 8-K, Myriad Genetics, OCT 31, 2023, View Source [SID1234636541]). Pursuant to the Amendment, the Company exercised the option to increase the maximum principal amount of the available revolving line of credit by $25,000,000, which was effectuated through a new commitment provided by a new lender, Goldman Sachs Bank USA.
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In addition, the Amendment amends the Original Credit Agreement and Original Security Agreement to, among other things, the following:
•allow for the assignment and terminations of certain lease agreements and the sale of certain personal property consisting of office furniture and equipment relating to such assignment;
•extend the time for compliance with certain post-closing obligations of the Original Credit Agreement; and
•revise the language of the Original Security Agreement to better reflect the Company’s existing cash management system.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference in its entirety.