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MESA LABS ANNOUNCES AMENDMENT TO CREDIT FACILITY AND REPURCHASE OF SENIOR CONVERTIBLE NOTES

MESA LABS ANNOUNCES AMENDMENT TO CREDIT FACILITY AND REPURCHASE OF SENIOR CONVERTIBLE NOTES

MESA LABS宣佈修訂信貸額度並回購優先可轉換票據
GlobeNewswire ·  04/08 20:00

Lakewood, Colo., April 08, 2024 (GLOBE NEWSWIRE) -- Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, "Mesa" or the "Company") today announced the closing of its Amended and Restated Credit Agreement (the "Credit Agreement"), which provides up to $200 million of senior secured debt through a syndicate of banks led by JPMORGAN CHASE BANK, N.A. The Credit Agreement includes a $75 million senior secured term loan facility (the "Term Loan") and a $125 million senior secured revolving credit facility (the "Revolver"), both of which mature in April 2029. The Credit Agreement includes a ten-year amortization schedule and no springing maturity relating to the Company's 1.375% Convertible Senior Notes due August 2025 (the "2025 Notes"). Both the Term Loan and the Revolver bear interest at a rate of SOFR plus an applicable margin ranging from 1.5% to 3.5%, depending on the Company's total Net Leverage Ratio. Proceeds from the Term Loan and Revolver will be used to pay down the Company's 2025 Notes and for normal operating expenditures. The Credit Agreement also allows funds to be used for permitted acquisitions.

科羅拉多州萊克伍德,2024年4月8日(GLOBE NEWSWIRE)——梅薩實驗室公司(納斯達克股票代碼:MLAB)(我們、我們、我們的 “梅薩” 或 “公司”)今天宣佈其經修訂和重述的信貸協議(“信貸協議”)結束,該協議通過北卡羅來納州摩根大通銀行牽頭的銀行集團提供高達2億美元的優先擔保債務答:信貸協議包括7500萬美元的優先擔保定期貸款額度(“定期貸款”)和1.25億美元的優先擔保循環信貸額度(“Revolver”),兩者均於2029年4月到期。信貸協議包括與公司2025年8月到期的1.375%的可轉換優先票據(“2025年票據”)相關的十年攤銷時間表,不設彈性到期日。定期貸款和Revolver的利息均爲SOFR加上適用的利潤率從1.5%到3.5%不等,具體取決於公司的總淨槓桿比率。定期貸款和循環貸款的收益將用於償還公司的2025年票據和正常運營支出。信貸協議還允許將資金用於允許的收購。

Additionally, Mesa has entered into separate, privately negotiated transactions with certain holders of the 2025 Notes to repurchase $75 million aggregate principal amount of the 2025 Notes for an aggregate repurchase price in cash of $71.25 million. The repurchases are expected to close on or about April 11, 2024, subject to customary closing conditions.

此外,梅薩已與2025年票據的某些持有人進行了單獨的私下談判交易,以7,125萬美元的現金回購總額爲7500萬美元的2025年票據。回購預計將於2024年4月11日左右結束,但須遵守慣例成交條件。

Following these repurchases, $97.5 million aggregate principal of the Company's 2025 Notes will remain outstanding, and the Company will have $125.5 million of long-term debt outstanding under its Term Loan and the Revolver. "We are pleased to have implemented a solution to partially settle the 2025 Notes in cash, thereby reducing potential dilution to our shareholders related to the notes. We utilized the proceeds from the Term Loan to fund the repurchases and we plan to utilize free cash flow and proceeds from the revolver to pay off the remaining notes at maturity," said John Sakys, Chief Financial Officer of Mesa. "After the acquisition of GKE GMBH in October 2023 and GKE China on December 31, 2023, our total Net Leverage Ratio, as calculated per the terms of our Credit Facility, was less than 3.9x. Consistent with our approach after previous acquisitions, we are committed to paying down our debt balances. We aim to reduce our total net leverage ratio to below 3x over approximately the next 18 months," concluded Mr. Sakys.

在這些回購之後,公司2025年票據的本金總額將保持未償還狀態,公司的定期貸款和Revolver下將有1.255億美元的未償長期債務。“我們很高興實施了一項解決方案,以現金部分結算2025年票據,從而減少了與票據相關的股東的潛在攤薄。我們利用定期貸款的收益爲回購提供資金,並計劃利用自由現金流和循環資金的收益在到期時還清剩餘的票據。” 梅薩首席財務官約翰·薩基斯說。“在2023年10月收購GKE GMBH並於2023年12月31日收購GKE中國之後,根據我們的信貸額度條款計算,我們的總淨槓桿率不到3.9倍。與之前收購後的方針一致,我們致力於償還債務餘額。我們的目標是在未來大約18個月內將總淨槓桿率降至3倍以下,” 薩基斯先生總結道。

^ Total Net Leverage Ratio under our Credit Facility is defined as the ratio of total debt minus unrestricted cash in excess of $10 million as compared to 12 months trailing EBITDA. EBITDA is defined as net income plus the sum of interest expense, income tax expense, depreciation, amortization, unusual or non-recurring non-cash charges and stock compensation expense. In addition, EBITDA gives effect to trailing 12 months pro-forma ownership of GKE and adds back certain GKE acquisition expenses.

^ 我們的信貸額度下的總淨槓桿比率定義爲總債務減去超過1,000萬美元的非限制性現金與過去12個月的息稅折舊攤銷前利潤的比率。息稅折舊攤銷前利潤定義爲淨收入加上利息支出、所得稅支出、折舊、攤銷、異常或非經常性非現金費用和股票補償支出的總和。此外,息稅折舊攤銷前利潤使GKE過去12個月的預計所有權生效,並增加了GKE的某些收購費用。

About Mesa Laboratories, Inc.

關於梅薩實驗室公司

Mesa is a global leader in the design and manufacture of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Mesa offers products and services to help its customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world.

在爲製藥、醫療保健和醫療設備行業的監管應用設計和製造生命科學工具和關鍵質量控制解決方案方面,梅薩是全球領導者。梅薩提供產品和服務,以幫助其客戶確保產品的完整性,提高患者和工作人員的安全性,並改善世界各地的生活質量。

Forward Looking Statements

前瞻性陳述

This press release may contain information that constitutes forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. Forward-looking statements include statements relating to the use of proceeds from the Term Loan and the Revolver, the closing of the 2025 Note repurchase, the source of funds to pay amounts due upon maturity of the remaining 2025 Notes, and the Company's future Net Leverage Ratio. Generally, the words "expect," "anticipate," "seek," "intend," "plan," "believe," "could," "estimate," "may," "target," "project," and similar expressions identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements are based upon current information and expectations. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties. For additional information concerning these and other risks and uncertainties that could affect these statements, and our business, see our Annual Report on Form 10-K for the year ended March 31, 2023, as well as other risks and uncertainties detailed from time to time in our reports on Forms 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof, to provide any updates, or to reflect the occurrence of future events.

本新聞稿可能包含構成前瞻性陳述的信息。前瞻性陳述受風險和不確定性的影響,這些風險和不確定性可能導致實際業績與我們的歷史經驗和當前的預期或預測存在重大差異。前瞻性陳述包括與定期貸款和循環貸款收益的使用、2025年票據回購的結束、支付剩餘2025年票據到期金額的資金來源以及公司未來的淨槓桿率有關的陳述。通常,“期望”、“預測”、“尋找”、“打算”、“計劃”、“相信”、“可以”、“估計”、“可能”、“目標”、“項目” 等詞語以及類似的表述表示前瞻性陳述。但是,沒有這些詞語或類似的表述並不意味着陳述不是前瞻性的。這些陳述基於當前的信息和預期。由於這些風險和未知因素或其他風險和不確定性,實際結果可能與估計或預期的結果存在重大差異。有關這些以及可能影響這些報表和我們業務的其他風險和不確定性的更多信息,請參閱我們截至2023年3月31日止年度的10-K表年度報告,以及我們隨後向美國證券交易委員會提交的10-Q和8-K表報告中不時詳述的其他風險和不確定性。提醒讀者不要過分依賴這些前瞻性陳述,這些陳述僅代表截至本文發佈之日。我們沒有義務重新發布經修訂的前瞻性陳述以反映本聲明發布之日之後的事件或情況,也沒有義務提供任何更新或反映未來事件的發生。

CONTACT: CONTACT: Gary Owens; President and CEO, or John Sakys; CFO, both of Mesa Laboratories, Inc., +1-303-987-8000  For more information about the Company, please visit its website at 
聯繫人:加里·歐文斯;梅薩實驗室公司總裁兼首席執行官或約翰·薩基斯;首席財務官,+1-303-987-8000 有關該公司的更多信息,請訪問其網站 

譯文內容由第三人軟體翻譯。


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