ADMA Biologics announces amendment to credit agreement

ADMA Biologics announced the Company has amended the terms of its existing senior credit facility with Hayfin Capital Management, which matures in March 2027. The amended credit agreement provides for multiple favorable changes. First, there will be a reduction of 1% in the nominal interest expense on ADMA‘s current note. This will result in a lowered borrowing rate of SOFR + 8.50%. Included in this base rate, and consistent with the existing terms of the Hayfin facility, the Company may elect to pay up to 2.50% of the interest in kind, with the remaining portion of the interest payable in cash. Secondly, within the first 24 months after the amendment closing date, among other provisions, there will be a newly structured 50% waiver of the prepayment fee in connection with an acquisition of the Company or other strategic transactions. Taken together, we believe these changes will reduce ADMA’s cost of capital and provide for added financial flexibility over the near term and on an ongoing basis. The debt financing terms disclosed in this press release are not all inclusive and, as such, the statements in this press release are qualified in their entirety by reference to the description of the debt financing further detailed in a Securities and Exchange Commission filing on Form 8-K which will be filed concurrently with this press release.