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BioPharma Credit PLC - specialist life sciences debt investment trust - Minimum liquidity covenant in loan agreement between LumiraDX Investment Ltd and BioPharma Credit Investments V Master LP and BPCR Ltd Partnership is waived until October 23. This is providing that the consolidated liquidity of LumiraDX and its subsidiaries during the waiver period must be at least USD5 million, tested on a weekly basis. Further, the minimum net sales covenant for the trailing 12-month period ended September 30 will be tested on October 23. The loan agreement was dated March 2021 with BioPharma Credit as collateral agent and BioPharma Credit Investments and BPCR as lenders, with the latest amendment marking the 13th instance of altering the agreement.
Current stock price: USD0.83
12-month change: down 8.8%
By Tom Budszus, Alliance News reporter
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