Emergent’s Statement Regarding its Amended Credit Agreement
GAITHERSBURG, Md., May 17, 2023 – Emergent (NYSE: EBS) completed an amendment and extension of maturity of its existing syndicated credit agreement on May 15, 2023. We believe this revised structure and extended maturity furthers our ability to execute on our strategy to stabilize and strengthen our core business and position Emergent for sustainable long-term growth. It follows our successful completion of organizational changes announced in January and the close of the sale of Emergent’s travel health business to Bavarian Nordic on May 15.
“Our amended credit facility represents another important step forward as we continue to strengthen our core businesses and build the foundation for sustainable, long-term growth,” said Emergent CFO Richard S. Lindahl. “Working constructively with our bank group, we have now meaningfully extended our debt maturities and maintained our access to capital as we execute on our sharpened strategic focus.”
With increased certainty regarding our financial obligations, we can increase our focus on delivering on our commitments to the U.S. government, preparing for the launch of over-the-counter NARCAN® Nasal spray, and further strengthening our quality and compliance culture and systems.
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Media Contact:
Matt Hartwig
Director, Media Relations
240-760-0551
hartwigm@ebsi.com
Investor Contact:
Robert G. Burrows
Vice President, Investor Relations
240-631-3280
burrowsr@ebsi.com