BioPharma Credit PLC - UK-based closed-ended investment company - Notes on Tuesday a filing by LumiraDx Ltd on Friday last week, disclosing a seventeenth amendment to a loan agreement between the two. A subsidiary of LumiraDx, the borrower in this deal, entered into the agreement with Biopharma Credit, BPCR Limited Partnership and BioPharma Credit Investments V LP in March 2021. In the latest amendment, the minimum liquidity covenant will be waived until the end of the waiver period, provided that the consolidated liquidity of LumiraDx and its subsidiaries must be at least USD5.0 million. The amendment also states that the minimum net sales covenant for the twelve months ended September 30 will be tested at the end of the waiver period. The waiver period itself has been extended to December 28. The amendment removes undrawn tranche term loans in an aggregate amount of USD4.0 million from the agreement.
Current stock price: 67.10 pence, untraded
12-month change: down 12%
By Hugh Cameron, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Biopharma Cred. (BPCR)