AngioDynamics Inc. has entered into a new Credit Agreement with JPMorgan Chase Bank, N.A. and its subsidiary RITA Medical Systems, LLC. Announced on May 28, 2025, the agreement establishes a $25 million secured revolving credit facility set to mature on May 28, 2027. This facility, guaranteed by RITA and secured by first priority security interests in the assets of the Loan Parties, aims to enhance financial flexibility for AngioDynamics. The company, despite being well-capitalized, views this move as prudent financial management to navigate potential working capital fluctuations, especially during its manufacturing transfer process. The agreement includes customary financial covenants and provisions, with the revolving facility subject to a borrowing base and an initial issuance cap of $2 million for letters of credit.
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