ARTIVION Reports New Material Agreement & Financial Obligation

TL;DR

**ARTIVION just took on a new major financial obligation, watch for details.**

AI Summary

ARTIVION, INC. (NYSE: AORT) filed an 8-K on January 18, 2024, to report an "Entry into a Material Definitive Agreement" and the "Creation of a Direct Financial Obligation." This filing indicates that the company has entered into a significant new financial commitment, which could impact its balance sheet and future cash flow. For investors, this matters because new financial obligations can affect a company's profitability, its ability to invest in growth, and potentially its stock valuation, depending on the terms and purpose of the agreement.

Why It Matters

This filing signals a new significant financial commitment for ARTIVION, which could alter its financial health and future operational flexibility. Investors should monitor the details of this agreement to understand its potential impact on the company's earnings and debt levels.

Risk Assessment

Risk Level: medium — The filing indicates a new material financial obligation without providing specific details, creating uncertainty about its potential positive or negative impact.

Analyst Insight

A smart investor would await further details on the "Material Definitive Agreement" and "Direct Financial Obligation" to assess their nature, terms, and potential impact on ARTIVION's financial health before making any investment decisions.

Key Players & Entities

• ARTIVION, INC. (company) — the registrant filing the 8-K
• January 18, 2024 (date) — date of earliest event reported and filing date
• AORT (company) — trading symbol for ARTIVION, INC. on NYSE
• $0.01 (dollar_amount) — par value of Common Stock

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AORT NYSE Indicate by c
• $190.0 million — t. The Credit Agreement provides for a $190.0 million secured term loan facility (the "Initia
• $100.0 million — y (the "Initial Term Loan Facility"), a $100.0 million secured delayed draw term loan facility
• $60.0 million — lity, the "Term Loan Facilities") and a $60.0 million "senior-priority" secured revolving cre
• $30.0 million — nder the Initial Term Loan Facility and $30.0 million under the Revolving Credit Facility. Th
• $30,000,000 — the balance of outstanding loans below $30,000,000) will be subject to a prepayment premiu

Filing Documents

• form8-k.htm (8-K) — 33KB
• ex10-1.htm (EX-10.1) — 1501KB
• 0000950157-24-000061.txt ( ) — 1982KB
• aort-20240118.xsd (EX-101.SCH) — 4KB
• aort-20240118_lab.xml (EX-101.LAB) — 22KB
• aort-20240118_pre.xml (EX-101.PRE) — 16KB
• form8-k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 18, 2024 (the "Closing Date"), Artivion, Inc. ("Artivion") entered into a Credit and Guaranty Agreement (the "Credit Agreement"), among Artivion, as borrower, certain subsidiaries of Artivion, as guarantors, the lenders from time to time party thereto and Ares Capital Corporation, as administrative agent and collateral agent. The Credit Agreement provides for a $190.0 million secured term loan facility (the "Initial Term Loan Facility"), a $100.0 million secured delayed draw term loan facility (the "Delayed Draw Term Loan Facility" and, together with the Initial Term Loan Facility, the "Term Loan Facilities") and a $60.0 million "senior-priority" secured revolving credit facility (the "Revolving Credit Facility" and, together with the Term Loan Facilities, the "Credit Facilities"). Artivion and each of its existing and subsequently acquired or formed domestic subsidiaries (subject to certain exceptions and exclusions) guarantee the obligations under the Credit Facilities (the "Guarantors"). The Credit Facilities are secured by a security interest in substantially all existing and after-acquired real and personal property (subject to certain exceptions and exclusions) of Artivion and the Guarantors. On January 18, 2024, Artivion borrowed $190.0 million under the Initial Term Loan Facility and $30.0 million under the Revolving Credit Facility. The proceeds of the initial borrowings were used along with cash on hand (i) to pay off Artivion's existing credit facilities under that certain Credit and Guaranty Agreement, dated as of December 1, 2017, among Artivion, as borrower, the subsidiaries of Artivion from time to time party thereto, as guarantors, the lenders from time to time party thereto and Deutsche Bank AG New York Branch, as administrative agent and collateral agent, and (ii) to pay related fees and expenses. After the Closing Date, borrowings under the Revolving Credit Facility may be used f

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 10.1 Credit and Guaranty Agreement, dated as of January 18, 2024, by and among Artivion, Inc., On-X Life Technologies Holdings, Inc., On-X Life Technologies, Inc. and Ascyrus Medical, LLC, as subsidiary guarantors, the lenders from time to time party thereto and Ares Capital Corporation, as administrative agent and collateral agent. 104 Inline XBRL for the cover page of this Current Report on Form 8-K.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Artivion, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 18, 2024 ARTIVION, INC. By: /s/ Lance A. Berry Name: Lance A. Berry Title: Executive Vice President, Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR