Emergent BioSolutions Files 8-K on Agreements and Financials

Ticker: EBS · Form: 8-K · Filed: Mar 6, 2024 · CIK: 1367644

Emergent Biosolutions Inc. 8-K Filing Summary
FieldDetail
CompanyEmergent Biosolutions Inc. (EBS)
Form Type8-K
Filed DateMar 6, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$0.001, $270 million, $125,000,000, $100,000,000, $1.2 million
Sentimentneutral

Sentiment: neutral

Topics: material-agreement, financial-condition, 8-k

TL;DR

Emergent BioSolutions dropped an 8-K detailing new deals and financial health - check it out!

AI Summary

Emergent BioSolutions Inc. filed an 8-K on February 29, 2024, reporting on a material definitive agreement and its financial condition. The filing also disclosed the creation of a direct financial obligation and included Regulation FD disclosures and financial statements. The company is incorporated in Delaware and headquartered in Gaithersburg, Maryland.

Why It Matters

This 8-K filing provides crucial updates on Emergent BioSolutions' material agreements and financial status, which could impact investor decisions and the company's operational outlook.

Risk Assessment

Risk Level: medium — The filing concerns material definitive agreements and financial condition, which inherently carry medium risk due to potential impacts on the company's performance and obligations.

Key Numbers

  • 001-33137 — SEC File Number (Identifies the company's filing with the SEC.)
  • 14-1902018 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

  • Emergent BioSolutions Inc. (company) — Registrant
  • Delaware (jurisdiction) — State of incorporation
  • Gaithersburg, Maryland (location) — Principal executive offices

FAQ

What is the primary purpose of this 8-K filing?

The primary purpose is to report on the entry into a material definitive agreement, results of operations and financial condition, creation of a direct financial obligation, and to provide Regulation FD disclosures and financial statements.

When was the earliest event reported in this filing?

The earliest event reported in this filing was on February 29, 2024.

Where is Emergent BioSolutions Inc. headquartered?

Emergent BioSolutions Inc. is headquartered at 300 Professional Drive, Gaithersburg, Maryland 20879.

What is the Standard Industrial Classification code for Emergent BioSolutions Inc.?

The Standard Industrial Classification code for Emergent BioSolutions Inc. is 2834, which corresponds to Pharmaceutical Preparations.

What is the fiscal year end for Emergent BioSolutions Inc.?

The fiscal year end for Emergent BioSolutions Inc. is December 31.

Filing Stats: 1,277 words · 5 min read · ~4 pages · Grade level 12.8 · Accepted 2024-03-06 16:15:47

Key Financial Figures

  • $0.001 — ich registered Common Stock, Par Value $0.001 per share EBS New York Stock Exchange
  • $270 million — volving Credit Facility indebtedness of $270 million. The Forbearance Agreement and Amendme
  • $125,000,000 — stricted cash and cash equivalents from $125,000,000 to $100,000,000, and (z) the mandatory
  • $100,000,000 — d cash equivalents from $125,000,000 to $100,000,000, and (z) the mandatory principal prepay
  • $1.2 million — paid a forbearance fee of approximately $1.2 million. The foregoing description of the Forb

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement Amendment of Senior Secured Credit Facilities On February 29, 2024, Emergent BioSolutions Inc. (the "Company") entered into aForbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement (the "Forbearance Agreement and Amendment"), among the Company, as borrower, certain subsidiaries of the Company, as guarantors, Wells Fargo Bank, National Association, as administrative agent (in such capacity, the "Administrative Agent") and certain lenders party thereto (the "Lenders"). The Forbearance Agreement and Amendment amends the Amended and Restated Credit Agreement, dated as of October 15, 2018, among the Company, the lenders party thereto from time to time and the Administrative Agent (as previously amended, modified and supplemented, the "Existing Credit Agreement"), relating to the Company's senior secured credit facilities consisting of a senior revolving credit facility (the "Revolving Credit Facility") and a senior term loan facility (the "Term Loan Facility" and together with the Revolving Credit Facility, the "Senior Secured Credit Facilities"). The Forbearance Agreement and Amendment amends the Existing Credit Agreement to, among other things, (a) provide that the Administrative Agent and the Lenders forbear from exercising all rights and remedies under the Existing Credit Agreement and the other related loan documents arising from the occurrence and continuation of certain specified events of default during a forbearance period (the "Forbearance Period") between the forbearance effective date until the earlier to occur of (x) 5:00 p.m. on April 30, 2024 and (y) the occurrence of any event of default (other than the specified events of default) or default under the Forbearance Agreement and Amendment and notice by the Administrative Agent to the Company of the termination of the Forbearance Period and (b) provide consent by the required revolving credit lenders to make further loans to

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On March 6, 2024, the Company announced financial and operating results for the period ended December 31, 2023. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under anOff-BalanceSheet Arrangement of a Registrant. The information contained in Item 1.01 of this Form8-Kunder the subheading " Amendment of Senior Secured Credit Facilities " is incorporated into this Item 2.03 by reference.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 6, 2024, the Company will hold a conference call to discuss its financial and operating results for the period ended December 31, 2023. The Company will use presentation materials in connection with this conference call (the "Earnings Call Slides"), which will be posted on the Company's website at www.emergentbiosolutions.com . A copy of the Earnings Call Slides is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Forbearance Agreement and Sixth Amendment to Amended and Restated Credit Agreement, dated February 29, 2024, among Emergent BioSolutions Inc., the guarantors party thereof, the lenders party thereof, and Wells Fargo Bank, National Association, as administrative agent. 99.1 Earnings press release issued by the Company on March 6, 2024. 99.2 Earnings Call Slides, dated March 6, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EMERGENT BIOSOLUTIONS INC. Dated: March 6, 2024 By: /s/ RICHARD S. LINDAHL Name: Richard S. Lindahl Title: Executive Vice President, Chief Financial Officer and Treasurer

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