New York, New York, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors ("OHA") served as Administrative Agent and sole lender of a $250 million term loan facility supporting Emergent BioSolutions Inc. ("Emergent") (NYSE:EBS), a global company providing life-saving and life-extending products that address public health threats. The new debt financing will refinance Emergent's existing credit facility, reaching a significant step in its multi-year plan to stabilize its financial profile.
In connection with the execution of the term loan, Emergent issued OHA 2.5 million warrants in addition to common stock with an aggregate value of $10 million. Both the number of shares and the warrant strike prices will be calculated based on the volume weighted average price per share for the 30 trading days ending on, but excluding, the 10th business day following the closing date.
This bespoke term loan structure exemplifies OHA's strategic approach to partnering with companies to address complex ...
