The company has used a portion of the new facility to pay back existing debt to the bank, as well as a final payment designated in the parties' earlier loan agreement.
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.
In PLOS this week: transcriptomic and genomic analysis of prostate cancer by ancestry, genes linked to liver function in Korean cohort, and more.
British Columbia is incorporating genomics into its tracking of the ongoing COVID-19 outbreak, Business in Vancouver reports.
An analysis by the Personalized Medicine Coalition finds that about a quarter of new drugs approved in 2019 by the US Food and Drug Administration were personalized medicines.
The governor of New York has proposed a five-year plan to study the genomes of people with or who are at high risk of developing Alzheimer's disease.