Regenerative-medicine company Organogenesis rallies after announcing $100M credit facility
Organogenesis Holdings Inc (NASDAQ:ORGO) advanced after announcing a $100 million credit facility.
The credit deal with Silicon Valley Bank, the lead agent, and MidCap Financial consists of $60 million term loan facility and a $40 million revolving credit facility.
Shares of the regenerative-medicine company climbed 5% to $10 in after-hours trading.
The proceeds from the term loan and revolving credit facility will be used for general corporate purposes and the repayment of the company’s credit facility and a lease with Eastward Capital Partners.
The agreement requires the achievement of certain financial milestones in order to draw the final $20 million of the term loan facility.
“Silicon Valley Bank has been a great partner to Organogenesis, and we appreciate their continued support with this new credit agreement,” Organogenesis Chief Financial Officer Tim Cunningham said in a statement. “This new term loan and revolving credit facility enhances our balance sheet and allows us to continue to execute our strategic growth objectives.”
Based in Canton, Massachusetts, the company offers bioactive and acellular biomaterials products in advanced wound care and surgical biologics, including orthopedics and spine.
Contact Dennis Fitzgerald at [email protected]
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/216511/regenerative-medicine-company-organogenesis-rallies-after-announcing-100m-credit-facility-216511.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Lion’s Mane Mushroom
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, But it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes:
Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity.
Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins.
Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system.
Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome.
Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function.
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules. Today Be 100% Satisfied Or Receive A Full Money Back Guarantee Order Yours Today By Following This Link.