AZYO
Form 8-K AZIYO BIOLOGICS, INC. For: Nov 21
Article Stock Quotes (1)
8. FE
10. AXP
November 28, 2022 5:04 PM EST
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): November 21, 2022
AZIYO BIOLOGICS, INC.
(I.R.S. Employer
12510 Prosperity Drive, Suite 370
(Registrant's telephone number, include area code)
Title of each class Trading
Symbols Name of each exchange on which
Class A Common Stock, $0.001 par value per share AZYO The Nasdaq Capital Market
Emerging growth company x
Item 1.01. Entry into a Material Definitive Agreement.
On November 21, 2022, Aziyo Biologics, Inc. (the "Company") entered into an amendment letter (the "Amendment Letter") to the Credit Agreement, dated as of August 10, 2022 (as amended by the letter agreement dated as of October 9, 2022 and the letter agreement dated as of November 10, 2022, the "Credit Agreement"), by and among the Company, as the Borrower, and its subsidiaries, the financial institutions party thereto from time to time as lenders, and SWK Funding LLC, as agent. As previously disclosed, the Credit Agreement consists of senior secured term loans in an aggregate principal amount of $25 million (including $4 million that becomes available, subject to the achievement of specified operational and financial metrics by September 30, 2023).
The Amendment Letter extended the minimum liquidity step-up date (the "Step-Up Date") of November 21, 2022 to December 16, 2022. As previously disclosed, under the Credit Agreement, the Company is required to maintain a minimum liquidity of $5.0 million until the Step-Up Date and thereafter, the greater of (i) $5.0 million or (ii) the sum of the Operating Burn (as defined in the Credit Agreement) for the two (2) prior consecutive fiscal quarters then ended.
The foregoing summary of the Amendment Letter does not purport to be complete and is qualified in its entirety by reference to the Amendment Letter, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Amendment Letter, dated as of November 21, 2022, to the Credit Agreement, dated as of August 10, 2022, among Aziyo Biologics, Inc., SWK Funding LLC, as Agent, and the Lenders from time to time party thereto (as amended).
104 Cover Page Interactive Data File (formatted as Inline XBRL document)
Date: November 28, 2022 By:
/s/ Matthew Ferguson
ATTACHMENTS / EXHIBITS
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