Bioventus Inc - Ordinary Shares - Class A

-0.56 (-7.62%)
Debt Financing / Related

Bioventus Amends Cartiheal Acquisition Structure

Published: 06/21/2022 13:36 GMT
Bioventus Inc - Ordinary Shares - Class A (BVS) - Bioventus Amends Cartiheal Acquisition Structure.
Bioventus Inc - Entered Into an Amendment to Option and Equity Purchase Agreement for Its Pending Acquisition of Cartiheal.
Bioventus Inc - Amended Acquisition Agreement Reduces Closing Payment to $50 Million From Original $315 Million That Was Previously Agreed.
Bioventus Inc - Remaining $215 Million of Purchase Price Will Instead Be Paid to Cartiheal Stockholders Upon Earlier of Achievement of Certain Milestones.
Bioventus Inc - Deferred Amount Will Be Paid in Five Tranches Commencing in 2023 and Ending No Later Than 2027.
Bioventus Inc - Intends to Finance Payment Due at Closing With Additional Debt.
Bioventus Inc - Finalizing Amendment to Existing Credit and Guaranty Agreement to Increase Its Current Term Loan to Facilitate Closing of Acquisition.
Bioventus Inc - Payments of Deferred Amount Are Anticipated to Be Made Through Company's Free Cash Flow and Expansion of Its Existing Credit Facility.