Eagle Pharmaceuticals discloses event of default under credit agreement

Eagle Pharmaceuticals disclosed that under the terms of the third amended and restated credit agreement among the company, the lenders party thereto and JPMorgan Chase Bank, as administrative agent, the company was required to deliver to the administrative agent and lenders, by not later than November 14, quarterly financial statements certified by one of its officers as presenting fairly in all material respects the financial condition and results of operations of the company and its consolidated subsidiaries for the fiscal quarter ended September 30 pursuant to a covenant requiring delivery of quarterly financials within 45 days of the end of each of the first three fiscal quarters of each fiscal year. Eagle failed to timely deliver the September 2023 financials, which such failure constituted a default under the credit agreement, subject to a 30-day cure period ending December 14. The Company failed to timely deliver the September 2023 financials and accordingly failed to cure such default within the 30-day cure period, which gave rise to an event of default under the credit agreement.