Alkermes plc. Terminates Material Definitive Agreement
Ticker: ALKS · Form: 8-K · Filed: 2024-12-19T00:00:00.000Z
Sentiment: neutral
Topics: agreement-termination, material-agreement
TL;DR
Alkermes just terminated a big deal. Details TBD.
AI Summary
Alkermes plc. announced on December 19, 2024, the termination of a material definitive agreement. The company did not disclose the specific agreement or the counterparty involved in this filing.
Why It Matters
The termination of a material definitive agreement can significantly impact a company's strategic direction, financial performance, and ongoing business relationships.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can signal underlying issues or strategic shifts that may pose risks to the company's future operations and financial health.
Key Players & Entities
- Alkermes plc. (company) — Registrant
- December 19, 2024 (date) — Date of report and earliest event
FAQ
What specific material definitive agreement was terminated?
The filing does not specify which material definitive agreement was terminated.
Who was the counterparty to the terminated agreement?
The filing does not disclose the name of the counterparty to the terminated agreement.
What is the effective date of the termination?
The filing indicates the earliest event reported was on December 19, 2024, which is also the date of the report.
Are there any financial implications mentioned due to this termination?
The filing does not detail any specific financial implications resulting from the termination.
Does this termination relate to any specific product or business segment of Alkermes?
The filing does not provide information linking the termination to a specific product or business segment.
Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 11.2 · Accepted 2024-12-19 16:27:44
Key Financial Figures
- $0.01 — on which registered Ordinary shares, $0.01 par value ALKS Nasdaq Global Select
Filing Documents
- alks-20241219.htm (8-K) — 49KB
- 0000950170-24-138478.txt ( ) — 167KB
- alks-20241219.xsd (EX-101.SCH) — 30KB
- alks-20241219_htm.xml (XML) — 5KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On December 19, 2024, Alkermes, Inc., a subsidiary of Alkermes plc (the "Company"), prepaid in full all outstanding amounts under, and terminated, the Amended and Restated Credit Agreement, dated as of September 16, 2011 and amended and restated on September 25, 2012, as further amended by Amendment No. 2 on February 14, 2013, Amendment No. 3 and Waiver on May 22, 2013, Amendment No. 4 on October 12, 2016, Amendment No. 5 on March 26, 2018, Amendment No. 6 on March 12, 2021 and Amendment No. 7 on June 28, 2023 (the "Credit Agreement"), by and among Alkermes, Inc., as borrower, the Company and certain other subsidiaries of the Company, Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent, and the financial institutions and entities party thereto as lenders. The Company did not incur any early termination penalties in connection with the termination of the Credit Agreement (other than customary breakage costs). All liens on the collateral securing the obligations under the Credit Agreement were released in connection with termination. Material terms and conditions of the Credit Agreement were summarized in the Company's Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission on June 28, 2023 and March 12, 2021 , and such summaries are incorporated herein by reference. 2 SIGNA TURE 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. ALKERMES PLC Date: December 19, 2024 By: /s/ David J. Gaffin David J. Gaffin Secretary 3