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credit facility

The credit facility, available through Sept. 17, 2024, replaces a prior credit facility dated Aug. 11, 2016 for $1 billion.

About $770 million in net proceeds will go toward the repayment of outstanding debt under its senior unsecured revolving credit facility.

The firm replaced an existing $4 billion credit facility with a $5 billion one, and entered into a new $5 billion revolving credit facility. 

The agreement consists of a $100 million revolving credit facility, a $100 million initial term loan, and a $50 million delayed-draw term loan.

The company drew $49 from the credit facility to repay an earlier outstanding loan and expects to draw another $27 million to, in part, pay for its acquisition of GenePOC.

The firm expects to offer nearly 5 million shares and also noted that this week it entered into an amended credit facility.

NanoString will initially draw $60 million at close, which will net it approximately $8 million after repaying its existing debt with the investment firm.

The new agreement amends a deal reached in October to partially fund its acquisition of some Alere businesses. That agreement was for $270 million.

NeoGenomics has now redeemed 100 percent of the $110 million preferred stock issues in conjunction with the Clarient acquisition, at a cost of $105 million.

The company said it will use the proceeds for technology development and to expand its global footprint, among other things.

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