Mesa Laboratories repays, terminates credit agreement with JPMorgan

By Sarah Lizee

Olympia, Wash., Nov. 4 – Mesa Laboratories, Inc. repaid all $15,111.53 under its credit agreement dated March 1, 2017 with JPMorgan Chase Bank, NA as administrative agent and terminated the facility on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The repayment was made in connection with the company’s $180 million acquisition of Gyros Protein Technologies.

The credit facility provided the company with a revolving line of credit of up to a maximum of $80 million, a $20 million term loan and up to $2.5 million of letters of credit.

The credit facility provided a post-closing accordion feature that allowed for the company to request to increase the line of credit or term loan up to an additional $100 million.

No penalties were paid in connection with the termination of the credit facility.

Mesa Laboratories is a Lakewood, Colo.-based designer, manufacturer and marketer of quality-control instruments and disposable products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.