By Devika Patel
Knoxville, Tenn., July 2 – MiMedx Group, Inc. arranged a $75 million debt financing with Hayfin Capital Management LLP, according to a press release.
The loans consist of a $50 million five-year term loan, which has been fully drawn, and a $25 million one-year delayed draw term loan, which has not yet been drawn.
The loans bear interest at Libor plus 675 basis points, with a 1.5% Libor floor.
The company also plans to sell $100 million of series B convertible preferred stock to an entity controlled by EW Healthcare Partners and Hayfin.
MiMedx is a Marietta, Ga.-based in advanced wound care and therapeutic biologics company.
| Issuer: | MiMedx Group, Inc.
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| Issue: | Term loan facility, delayed draw term loan facility
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| Amount: | $75 million
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| Coupon: | Libor plus 675 bps, subject to a 1.5% Libor floor
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| Investor: | Hayfin Capital Management LLP
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| Settlement date: | July 2
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| Distribution: | Private placement
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| Term loan
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| Amount: | $50 million
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| Maturity: | Five years
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| Delayed draw term loan
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| Amount: | $25 million
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| Maturity: | One year
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