Exactech Announces Renewal of $150 Million Senior Secured Debt Credit Facility
December 18 2015 - 9:15AM
Business Wire
Exactech, Inc. (Nasdaq: EXAC), a developer and producer of bone
and joint restoration products for hip, knee, shoulder and spine,
announced today the five year renewal and increase of its Senior
Secured Revolving Credit Facility to $150 million.
J.P. Morgan Securities LLC will act as sole lead arranger and
sole bookrunner with syndicate participants BBVA Compass Bank,
Hancock Bank, HSBC Bank USA, NA and Synovus Bank. The funding
closed on December 17, 2015.
Chief Executive Officer David Petty said, “We are pleased to
expand and extend our credit facilities with a new relationship
with JPMorgan Chase. With our positive cash flow over the past few
quarters, we have been steadily reducing our long-term debt. This
facility, however, provides us with useful financial flexibility
for potential investment opportunities.”
About Exactech
Based in Gainesville, Fla., Exactech develops and markets
orthopaedic implant devices, related surgical instruments and
biologic materials and services to hospitals and physicians. The
company manufactures many of its orthopaedic devices at its
Gainesville facility. Exactech’s orthopaedic products are used in
the restoration of bones and joints that have deteriorated as a
result of injury or diseases such as arthritis. Exactech markets
its products in the United States, in addition to more than 30
markets in Europe, Latin America, Asia and the Pacific. Additional
information about Exactech, Inc. can be found at
http://www.exac.com. Copies of Exactech’s press releases, SEC
filings, current price quotes and other valuable information for
investors may be found at http://www.exac.com and
http://www.hawkassociates.com.
An investment profile on Exactech may be found at
http://www.hawkassociates.com/profile/exac.cfm. To receive future
releases in e-mail alerts, sign up at
http://www.hawkassociates.com/about/alert.
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company’s expectations or beliefs concerning future events of
the company’s financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company’s dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company’s
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151218005466/en/
Exactech, Inc.Investor contactsJody Phillips,
352-377-1140Executive Vice President of Finance & Chief
Financial OfficerorHawk AssociatesJulie Marshall or Frank Hawkins,
305-451-1888E-mail: EXAC@hawkassociates.comorExactech, Inc.Media
contactPriscilla Bennett, 352-377-1140Vice President, Corporate
& Marketing Communication
Exactech, Inc. (delisted) (NASDAQ:EXAC)
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