Natera,Inc. (NASDAQ:NTRA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On December31, 2018, Natera,Inc. (“Natera” or the “Company”) entered into an amendment and waiver (“Amendment”) to its credit agreement dated August8, 2017 (“Credit Agreement”) with OrbiMed Royalty Opportunities II, L.P. (“OrbiMed”). The Credit Agreement provides for a $100,000,000 senior secured term loan facility, of which $75,000,000 was provided to Natera in August2017 and the remaining $25,000,000 was to be provided at Natera’s request no later than December31, 2018 (the “Delayed Draw”; collectively, the “Loans”). The Amendment increased the amount of the Delayed Draw to $50,000,000 and extended the deadline for the Delayed Draw to March31, 2019. Upon the Delayed Draw, if any, the interest rate for the Loans will decrease to the sum of (i)8.50% plus (ii)the higher of (x)the LIBO Rate for such Interest Period (as defined in the Credit Agreement) and (y)1.00.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which Natera intends to file with the Securities and Exchange Commission as an exhibit to its next Annual Report on Form10-K.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01, “Entry into a Material Definitive Agreement,” is incorporated herein by reference.
About Natera,Inc. (NASDAQ:NTRA)
Natera, Inc. is a diagnostics company. The Company’s product offerings include its Panorama Non-Invasive Prenatal Test (NIPT) that screens for chromosomal abnormalities of a fetus with a blood draw from the mother; Horizon Carrier Screening (Horizon) to determine carrier status for various severe genetic diseases that could be passed on to the carrier’s children; Spectrum Pre-implantation Genetic Screening (PGS) and Spectrum Pre-implantation Genetic Diagnosis (PGD) to analyze chromosomal anomalies or inherited genetic conditions during an in vitro fertilization (IVF) cycle to select embryos with the probability of becoming healthy children; Anora Products of Conception (POC) test to analyze fetal chromosomes to understand the cause of miscarriage, and Non-Invasive Paternity Testing (PAT), to determine paternity by analyzing the fragments of fetal deoxyribonucleic acid (DNA) in a pregnant mother’s blood and a blood sample from the alleged father(s).