Aytu BioPharma Announces Paydown and Refinancing of Term Loan on More Favorable Terms
Aytu BioPharma Announces Paydown and Refinancing of Term Loan on More Favorable Terms
Company receives proceeds of $3.5 million through exercise of warrants, a portion of which was used to pay down debt
公司通過行權認股證獲得了350萬美元的收入,其中一部分用於償還債務。
Interest rate on new $13.0 million term loan reduced by approximately 350 basis points today, potentially saving the Company $1.3 million over the life of the term loan
新的1300萬美元期貸款利率今天降低了約350個點子,可能會爲公司在期貸款期限內節省130萬美元。
Term loan maturity extended to June 12, 2028
期貸款到期日延長至2028年6月12日。
Extension of Revolving Credit Facility increases potential borrowing capacity
循環信貸設施的延期增加了潛在的借款能力。
DENVER, CO / ACCESSWIRE / June 18, 2024 / Aytu BioPharma, Inc. (the "Company" or "Aytu") (NASDAQ:AYTU), a pharmaceutical company focused on commercializing novel therapeutics, today announced the successful refinancing of its existing term loan and extension of its revolving credit facility on more favorable terms to the Company. In addition, the Company received $3.5 million of additional capital through the exercise of warrants from its June 2023 equity financing, a portion of which was used to pay down the term loan indebtedness.
丹佛,CO / ACCESSWIRE / 2024年6月18日 / Aytu BioPharma公司(“公司”或“Aytu”)(NASDAQ:AYTU)是一家致力於商業化新型治療藥物的製藥公司,今天宣佈成功實現再融資和更有利於公司的循環信貸設施延期。此外,該公司通過其2023年6月股權融資的行權認股證獲得了350萬美元的額外資金,其中一部分用於償還期貸款債務。
"Aytu has executed a multi-year effort to re-position the company as a growing specialty pharmaceutical company focused on our novel branded ADHD drugs and pediatric therapeutics. This successful execution is now being recognized financially with our consolidation to one lender and extension of these facilities on terms much more favorable to the company," commented Josh Disbrow, Chief Executive Officer of Aytu. "Additionally, the recent exercise of warrants provided net proceeds to the company of $3.5 million, a portion of which was used as a capital source to pay down some of the existing term loan, as we continue to strengthen our balance sheet. We are confident that with our strategic focus on cash flows and earnings, we will continue to further enhance the financial profile of the company going forward."
Aytu的首席執行官Josh Disbrow評論說:“Aytu已經執行了一項多年的努力,將公司重新定位爲一個專注於我們的新型品牌ADHD藥物和兒科治療的快速發展的特種製藥公司。公司現在通過與一個借款人合併並延長這些合同的成功實現來獲得認可,並獲得更有利於公司的額度和貸款條件。”此外,“最近行權認股證提供了350萬美元的淨收益,其中一部分用作爲償還現有期貸款的資本來源,以繼續加強我們的資產負債表。我們有信心,通過我們的現金流和收益的戰略重點,我們將繼續進一步增強公司的財務狀況。”
New Eclipse Term Loan
新的Eclipse期貸款。
On June 12, 2024, the Company entered into a new $13.0 million secured, amortizing term loan with Eclipse Business Capital LLC ("Eclipse) at an interest rate of the secured overnight financing rate as administered by the SOFR Administrator ("SOFR") plus 7.0% (effectively 12.4% today) (the "Eclipse Term Loan"). The Eclipse Term Loan replaces the Company's previous $15.0 million secured term loan with Avenue Capital Group II, L.P. ("Avenue"), which would have had an effective interest rate today of 15.9%. The Eclipse Term Loan will mature on June 12, 2028, with a straight-line loan amortization period of seven years, which would provide for a loan balance at the end of the four-year term of approximately $5.6 million to be repaid at maturity.
在2024年6月12日,公司與Eclipse Business Capital LLC(“Eclipse”)簽署了一項新的1300萬美元擔保分期償還期貸款,利率爲由SOFR Administrator(“SOFR”)管理的擔保隔夜融資利率加7.0%(今天實際上爲12.4%)(“Eclipse Term Loan”)。 Eclipse Term Loan取代了Company先前與Avenue Capital Group II,LP(“Avenue”)簽訂的1500萬美元擔保期貸款,該期貸款今天的實際利率將爲15.9%。 Eclipse Term Loan將於2028年6月12日到期,呈直線貸款攤還期爲七年,在四年期限結束時,將提供約560萬美元的貸款餘額待償還。
The approximate 350-basis point reduction in the interest rate (based on today's rates) results in a potential savings of $1.3 million in interest expense under the new Eclipse Term Loan compared to the interest rate under the Avenue term loan. Further, the refinancing improves the Company's balance sheet by reclassifying a significant majority of the term loan indebtedness from current liabilities to long-term liabilities and decreasing the overall indebtedness from $15.0 million to $13.0 million, helping to improve key financial ratios.
利率降低了約350個點子(根據今天的利率),相對於Avenue期貸款的利率,將有望在Eclipse Term Loan下節省130萬美元的利息費用。此外,再融資通過將大部分期貸款負債從流動負債重新分類爲長期負債,並將總負債從1500萬美元降至1300萬美元,有利於改善公司的資產負債表和財務比率。
Warrant Exercise and Debt Paydown
認股證行權和債務償還。
On June 14, 2024, warrants to purchase 2,173,912 common shares at $1.59 per share issued with the Company's June 2023 equity financing were exercised, generating proceeds of $3.5 million. The warrants were converted into 367,478 shares of common stock and 1,806,434 pre-funded warrants to purchase shares of common stock with an exercise price of $0.0001 per share. The Company used a portion of these proceeds to pay down $2.0 million in term loan indebtedness (from $15.0 million to $13.0 million) along with closing costs. As of June 18, 2024, the Company had 5,972,327 shares of common stock outstanding.
在2024年6月14日,行使了用於購買普通股的2173912份認股證,行使價格爲每股1.59美元,籌集了350萬美元。這些認股證被轉換爲367478股普通股和1806434個預融資的認股證,以購買每股股價爲0.0001美元的普通股。公司利用其中一部分資金償還了200萬美元的期貸款負債(從1500萬美元降至1300萬美元),並支付了相關的交易費用。截至2024年6月18日,該公司有5972327股普通股流通。
Extension of Revolving Credit Facility
循環信貸設施的延期。
On June 12, 2024, the Company also extended the maturity date of its existing revolving credit agreement with Eclipse to June 12, 2028. The amendment of the revolving credit facility also provides for an increase in potential maximum borrowing capacity to $14.5 million and other terms deemed to be more advantageous to the Company.
在2024年6月12日,公司還將與Eclipse簽訂的現有循環信貸協議的到期日延長至2028年6月12日。修改循環信貸設施還提供了將潛在最大借款額度增加至1450萬美元的條款,以及其他被認爲比公司更有優勢的條款。
Mr. Disbrow concluded, "We have been fortunate to have partnered with two professional financial organizations in Avenue and Eclipse. We thank the Avenue team for their hard work and support in collaborating with us over the last few years. We also look forward to our expanded relationship with Eclipse and the collaboration that we continue to build."
Disbrow先生總結說:“我們很幸運能與Avenue和Eclipse這兩個專業的金融機構建立合作關係。我們感謝Avenue的團隊在過去幾年與我們合作的辛勤工作和支持。我們也期待與Eclipse的擴大合作關係,繼續建立我們之間的合作。”
The Company will provide additional details regarding the terms and conditions of the Eclipse Term Loan and the revolving credit facility in its Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission.
有關Eclipse期貸款和循環信貸設施條款和條件的詳細信息,公司將在其提交給美國證券交易委員會的8-K表格中提供。
About Aytu BioPharma, Inc.
關於Aytu BioPharma,Inc。
Aytu is a pharmaceutical company focused on commercializing novel therapeutics. The Company's prescription products include Adzenys XR-ODT (amphetamine) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) and Cotempla XR-ODT (methylphenidate) extended-release orally disintegrating tablets (see Full Prescribing Information, including Boxed WARNING) for the treatment of attention deficit hyperactivity disorder (ADHD), Karbinal ER (carbinoxamine maleate), an extended-release antihistamine suspension indicated to treat numerous allergic conditions, and Poly-Vi-Flor and Tri-Vi-Flor, two complementary fluoride-based prescription vitamin product lines available in various formulations for infants and children with fluoride deficiency. To learn more, please visit aytubio.com.
Aytu是一家專注於商業化新型治療藥物的製藥公司。公司的處方產品包括Adzenys XR-ODT(苯丙胺)延長釋放口服崩解片(見完整處方信息,包括警告)和Cotempla XR-ODT(甲基苯丙酮)延長釋放口服崩解片(見完整處方信息,包括警告)以用於治療注意力缺陷多動障礙(ADHD),Karbinal ER(carbinoxamine maleate)是一種可用於治療多種過敏症狀的延長釋放型抗組胺藥懸液。以及Poly-Vi-Flor和Tri-Vi-Flor(注意力缺陷多動障礙)治療的產品標有全處方信息,包括警告。Karbinal ER(carbinoxamine maleate)是一種可用於治療多種過敏症狀的延長釋放型抗組胺藥懸液。(注B:甲基苯丙胺又稱爲利他林,是一種起源於苯甲基苯丙胺的用於治療注意力缺陷過動症(ADHD)和嗜睡症的藥物。)(注C:Karbinal ER是一種抗組胺藥,用於治療鼻塞、打噴嚏、流鼻涕等症狀,並不適合治療重病。)Poly-Vi-Flor和Tri-Vi-Flor針對氟缺乏症嬰兒和兒童生產的兩種互補的氟化物處方維生素產品線,提供各種配方。要了解更多信息,請訪問aytubio.com。
Forward-Looking Statements
前瞻性聲明
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). All statements other than statements of historical facts contained in this press release, are forward-looking statements. Forward-looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. All statements other than statements of historical facts contained in this presentation, are forward-looking statements. These statements are predictions and are subject to risks and uncertainties that could cause the actual events or results to differ materially. These risks and uncertainties include, among others, risks associated with: the Company's plans relating to the Company's ability to fully wind down the Consumer Health Segment, the Company's ability to complete the manufacturing transfer of Adzenys XR-ODT and Cotempla XR-ODT, the Company's overall financial and operational performance, potential adverse changes to the Company's financial position or our business, the results of operations, strategy and plans, changes in capital markets and interest rates, and the ability of the Company to finance operations in the manner expected, risks relating to gaining market acceptance of our products, our partners performing their required activities, our anticipated future cash position, regulatory and compliance challenges and future events under current and potential future collaborations. We also refer you to the risks described in "Risk Factors" in Part I, Item 1A of our most recent Annual Report on Form 10‐K and in other reports and documents that the Company files with the United States Securities and Exchange Commission.
本新聞稿包含《1933年證券法》(經修正)第27(A)條和《1934年證券交易法》(經修正)第21(E)條中規定的前瞻性聲明。除本新聞稿載有的歷史事實陳述外,其餘所有陳述均爲前瞻性陳述。前瞻性陳述通常採用將來時態撰寫和/或以“可能”、“將”、“應該”、“預測”、“可能”、“期望”、“建議”、“相信”、“估計”、“繼續”、“預期”、“打算”或類似詞語爲前綴,或者採用這些術語的否定形式或這些術語的其他變體或類似術語。本演示文稿除了載有的歷史事實陳述外,所有陳述均爲前瞻性陳述。這些陳述是預測性的,並且存在風險和不確定性,可能導致實際事件或結果出現重大差異。這些風險和不確定性包括但不限於:公司將如何計劃完全關閉消費者健康板塊,公司能否完成Adzenys XR-ODT和Cotempla XR-ODT的製造轉移,公司的整體財務和運營業績,公司財務狀況或業務發生潛在不利變化,營運、策略和計劃的結果,資本市場和利率期貨的變化,以及公司能否按預期的方式爲業務提供融資。風險涉及到產品在市場上的接受程度,我們的合作伙伴履行其所需的活動,我們預期未來的現金狀況,監管和合規挑戰以及在當前和潛在未來的合作中的未來事件。我們還向您提及在最新10-K表格的第I部分第1A項中記錄的風險以及公司向美國證券交易委員會提供的其他報告和文件。和Cotempla XR-ODT的製造轉移,公司的整體財務和運營業績,可能會對公司的財務狀況或業務發生不利變化,營運、策略和計劃的結果,資本市場和利率期貨的變化,以及公司能否按預期的方式爲業務提供融資等風險。本演示文稿除了載有的歷史事實陳述外,所有陳述均爲前瞻性陳述。這些陳述是預測性的,並且存在風險和不確定性,可能導致實際事件或結果出現重大差異。這些風險和不確定性包括但不限於:公司將如何計劃完全關閉消費者健康板塊,公司能否完成Adzenys XR-ODT和Cotempla XR-ODT的製造轉移,公司的整體財務和運營業績,公司財務狀況或業務發生潛在不利變化,營運、策略和計劃的結果,資本市場和利率期貨的變化,以及公司能否按預期的方式爲業務提供融資。風險涉及到產品在市場上的接受程度,我們的合作伙伴履行其所需的活動,我們預期未來的現金狀況,監管和合規挑戰以及在當前和潛在未來的合作中的未來事件。我們還向您提及在最新10-K表格的第I部分第1A項中記錄的風險以及公司向美國證券交易委員會提供的其他報告和文件。
Contacts for Investors
投資者聯繫方式
Mark Oki, Chief Financial Officer
Aytu BioPharma, Inc.
moki@aytubio.com
Mark Oki,致富金融首席財務官
Aytu BioPharma,Inc。
moki@aytubio.com
Robert Blum or Roger Weiss
Lytham Partners
aytu@lythampartners.com
Robert Blum或Roger Weiss
Lytham Partners
aytu@lythampartners.com
SOURCE: Aytu BioPharma, Inc.
來源:Aytu BioPharma,Inc。