REG - BioPharma Credit PLC - UPDATE ON INVESTMENT

Biopharma CreditAnnouncement

18/07/2023 07:00

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RNS Number : 3512G  BioPharma Credit PLC  18 July 2023

18 July 2023

BIOPHARMA CREDIT PLC

UPDATE ON INVESTMENT

BioPharma Credit PLC (LSE: BPCR) notes the filing of a Form 6-K made on 17
July 2023 by LumiraDx Limited ("LumiraDx") which discloses an amendment to the
loan agreement entered into with BioPharma Credit PLC, BPCR Limited
Partnership, and BioPharma Credit Investments V (Master) LP, which is copied
below in part for convenience and can be found in its entirety at: LumiraDx
Form 6-K Report
(https://www.sec.gov/Archives/edgar/data/1685428/000095017023033232/form_6-k_pharma_amend_8.htm)
:

"EXPLANATORY NOTE

 

On July 17, 2023, LumiraDx Investment Limited, one of the subsidiaries of
LumiraDx Limited (the "Company"), entered into an eighth amendment to that
certain Loan Agreement, dated March 23, 2021 (as amended from time to time,
the "Loan Agreement"), with BioPharma Credit Investments V (Master) LP and
BPCR Limited Partnership, as lenders, and BioPharma Credit PLC (collectively,
"Pharmakon"), as collateral agent, to extend the time that the Company has to
comply with certain minimum net sales and minimum liquidity covenants in the
Loan Agreement until July 20, 2023 (the "Eighth Amendment").

 

The foregoing description of the Eighth Amendment does not purport to be
complete and is qualified in its entirety by reference to the Eighth Amendment
which is attached to this Form 6-K as Exhibit 4.1.

 

This report on Form 6-K, including Exhibit 4.1 hereto, shall be deemed to be
incorporated by reference into the Company's registration statements on Form
S-8 (File No. 333-259874, File No. 333-264611 and File No. 333-271538), and
the registration statements on Form F-3 (File No. 333-264609 and File No.
333-271624), and to be a part thereof from the date on which this report is
filed, to the extent not superseded by documents or reports subsequently
furnished."

 

The referenced extended 20 July 2023 testing date for the financial covenants
has been provided at the request of LumiraDx. Pharmakon Advisors, LP will
provide any updates in due course.

Enquiries

Buchanan

David Rydell / Mark Court / Jamie Hooper / Henry Wilson

+44 (0) 20 7466 5000

biopharmacredit@buchanan.uk.com (mailto:biopharmacredit@buchanan.uk.com)

Notes to Editors

BioPharma Credit PLC is London's only specialist debt investor to the life
sciences industry and joined the LSE in March 2017. BioPharma Credit PLC
seeks to provide long-term shareholder returns, principally in the form of
sustainable income distributions from exposure to the life sciences industry.
BioPharma Credit PLC seeks to achieve this objective primarily through
investments in debt assets secured by royalties or other cash flows derived
from the sales of approved life sciences products.

 

 

 

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