Integer Holdings Corp Enters Material Definitive Agreement

TL;DR

Integer Holdings just signed a big financial deal, watch their debt.

AI Summary

Integer Holdings Corporation entered into a Material Definitive Agreement on July 1, 2024, related to a direct financial obligation. The company, formerly known as Greatbatch, Inc., is involved in the electromedical and electrotherapeutic apparatus industry. This filing indicates a significant financial event for the company.

Why It Matters

This filing signals a new financial commitment or obligation for Integer Holdings, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce financial risk, depending on the terms and the company's ability to meet them.

Key Players & Entities

• Integer Holdings Corporation (company) — Registrant
• Greatbatch, Inc. (company) — Former company name
• July 1, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share ITGR New York Stock
• $300.0 million — ity pursuant to the Credit Agreement by $300.0 million from $500.0 million to $800.0 million.
• $500.0 million — Credit Agreement by $300.0 million from $500.0 million to $800.0 million. The foregoing descr
• $800.0 million — y $300.0 million from $500.0 million to $800.0 million. The foregoing description of the Thir

Filing Documents

• gb-20240701.htm (8-K) — 33KB
• thirdamendmenttocreditagre.htm (EX-10.1) — 73KB
• itgr-pressreleasenoticeofc.htm (EX-99.1) — 13KB
• itgr-noticeofconvertibility.htm (EX-99.2) — 25KB
• coverpagelogo2a08a.gif (GRAPHIC) — 3KB
• gb-20240701_g1.jpg (GRAPHIC) — 76KB
• itgrlogo20190925a10a.jpg (GRAPHIC) — 76KB
• 0001114483-24-000106.txt ( ) — 563KB
• gb-20240701.xsd (EX-101.SCH) — 2KB
• gb-20240701_lab.xml (EX-101.LAB) — 22KB
• gb-20240701_pre.xml (EX-101.PRE) — 13KB
• gb-20240701_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On July 1, 2024, Integer Holdings Corporation (the "Company") entered into a third amendment (the "Third Amendment") to the credit agreement, dated as of September 2, 2021, by and among the Company, Greatbatch Ltd., as borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders and agents party thereto from time to time, as previously amended (the "Credit Agreement"). The Third Amendment amended the terms of the Credit Agreement to increase the maximum borrowing capacity of the Company under the revolving credit facility pursuant to the Credit Agreement by $300.0 million from $500.0 million to $800.0 million. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amendment, which is filed with this report as Exhibit 10.1 and is incorporated by reference into this Item 1.01. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 is incorporated by reference into this Item 2.03.

01. Other Events

Item 8.01. Other Events. On July 1, 2024, the Company announced that it had notified the holders of its 2.125% Convertible Senior Notes due 2028 (the "Notes") that the Notes have become convertible, at the option of the holders during the calendar quarter ending September 30, 2024. The Notes are convertible into cash, up to the principal amount of the Notes, and in cash, shares of the Company's common stock or a combination thereof, at the Company's election, in respect of the remainder, if any, of the Company's conversion obligation in excess of the aggregate principal amount of the Notes being converted. A copy of the Company's press release, dated July 1, 2024, is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01. A copy of the notice provided to the holders of the Notes in accordance with the terms of the indenture governing the Notes is attached hereto as Exhibit 99.2 and is incorporated by reference into this Item 8.01.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 10.1 Third Amendment to Credit Agreement (Revolver Increase), dated as of July 1 , 2024 , among Greatbatch Ltd., Integer Holdings Corporation, the Subsidiary Guarantors party thereto, the Incremental Revolving Credit Lenders, and Wells Fargo Bank, National Association, as administrative agent 99.1 Press Release dated July 1, 2024 99.2 Form of Notice of Convertibility to Holders of Integer Holdings Corporation's 2.125% Convertible Senior Notes due 2028 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES 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, thereunto duly authorized. Date: July 1, 2024 INTEGER HOLDINGS CORPORATION By: /s/ Diron Smith Diron Smith Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR