Aziyo Biologics pushes out minimum liquidity step-up date for loan

By Wendy Van Sickle

Columbus, Ohio, Nov. 28 – Aziyo Biologics, Inc. extended the minimum liquidity step-up date related to its senior secured term loan facility with SWK Holdings on Nov. 21, according to an 8-K filing with the Securities and Exchange Commission.

The company is required to maintain a minimum liquidity of $5 million until the step-up date and thereafter at the greater of $5 million or the sum of the operating burn for the two prior consecutive fiscal quarters. The step-up date is now Dec. 16, pushed out from Nov. 21.

The term loan is initially $21 million, and an additional $4 million becomes available, subject to the achievement of specified operational and financial metrics by Sept. 30, 2023.

Aziyo Biologics is a commercial-stage regenerative medicine company focused on better outcomes for patients receiving implantable medical devices. The company is based in Silver Spring, Md.

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