[***]Article 1.01. Signing of an important definitive agreement
[***]At November 12, 2021
, we entered into a third amendment to the credit agreement amending our existing revolving line of credit agreement as of October 24, 2017
with Bank of America, NA
., which revolving line of credit agreement, as amended to date (including by this third amendment), we refer to the amended agreement.
[***]Under the amended agreement, Bank of America, NA
. acts as administrative agent, letter of credit issuer and swingline lender for a $ 75.0 million
senior revolving line of credit with a maturity of November 12, 2026
. Under certain conditions, we may request up to a $ 75.0 million
in commitments for a maximum overall commitment of $ 150.0 million
, subject to the approval of the revolving lenders mentioned in the amended agreement. Loans under the Amended Agreement will generally bear interest at a rate equal (a) to the Bloomberg Short-Term Bank Yield Index rate, or BSBY, plus (b) an additional percentage which will vary by 0.25% at 1.00%, based on our consolidated leverage ratio at the time of borrowing. We have agreed to pay a commitment fee of an amount equal to 0.20% to 0.30% per annum, based on our consolidated leverage ratio, the actual daily unused amount of the credit facility in under the Amended Agreement, which commission is due and payable quarterly late. The loan origination costs will be amortized over the five-year term of the amended agreement.
[***]The Amended Agreement contains the usual representations, guarantees, affirmative and negative commitments, including financial commitments, events of default and indemnification provisions in favor of the lenders referred to in the Amended Agreement. Restrictive covenants include restrictions on our leverage ratio and interest coverage ratio, our lien and debt obligations, and our participation in certain merger and acquisition transactions or arrangements and other matters, all subject to certain exceptions. Financial covenants require that we not exceed certain maximum debt and interest coverage ratios. The lenders have obtained a first lien and security interest over substantially all of our assets, with the exception of certain intangible assets.
[***]The foregoing description of the Amended Agreement is not intended to be complete and is qualified in its entirety by reference to the Amended Agreement, which is filed as Exhibit 10.1 of this Form 8-K and is incorporated herein by referral.
[***] Article 2.03. Creation of a direct financial obligation or obligation under a
Off-Balance Sheet Arrangement of a Registrant.
[***]The information set out in section 1.01 above is incorporated by reference into this section 2.03.
[***] Article 9.01. Financial statements and supporting documents.
Exhibit No. Description
10.1*† Third Amendment to Credit Agreement dated as of November 12, 2021,
by and among Anika Therapeutics, Inc., the Subsidiary Guarantors
party thereto, the Lenders party thereto, Bank of America, N.A., as
administrative agent, L/C Issuer and Swingline Lender, and the other
104 Cover Page Interactive Data File (embedded within the Inline XBRL
[***] * Certain exhibits and annexes have been omitted in accordance with Article 601 (a) (5) of
[***] SK Regulation. The registrant hereby agrees to provide copies of the
[***] exhibitions and schedules on request from the Security and Trade Commission
[***] provided that he can request confidential treatment in accordance with rule 24b-2 of the
[***] the Securities Exchange Act of 1934 for the documents and schedules so provided.
[***] † Certain personally identifiable sensitive information in this exhibit has been
[***] omitted by redacting part of the text and replacing it with
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