ADMA - ADMA Biologics amends existing senior secured term loan with $15M additional loan tranche

ADMA Biologics ([[ADMA]] +5.3%) amended its existing senior secured term loan with Perceptive Advisors providing an additional loan tranche of $15M raising the total size of the credit facility to $100M.Also, the facility will provide a two-year extension of the interest only period through the duration of the credit facility now maturing in March 2024, at an unchanged borrowing rate of 11%.Newly issued loan tranche was fully drawn and used to pay the remaining obligations under the Biotest AG subordinated note entered into in June of 2017, at a 7% mutually agreed discount with no associated prepayment penalties.Perceptive credit amendment has an interest-only term with a maturity date of Mar. 1, 2024; borrowings under the Perceptive credit agreement bear interest at a rate per annum equal to 7.5% plus the greater of one-month LIBOR and 3.5%.

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ADMA Biologics amends existing senior secured term loan with $15M additional loan tranche