Lifecore Biomedical Enters Into $150M In New Financing, Repays its Outstanding Term Loans And Signs New Supply Agreement To Expand HA Fermentation Capacity With Existing Long-Term Customer, Alcon
Portfolio Pulse from Benzinga Newsdesk
Lifecore Biomedical (LFCR) has entered into a $150M financing agreement with Alcon (ALC) to repay its outstanding term loans and expand its hyaluronic acid (HA) fermentation capacity. The deal includes a six-year senior secured term facility and a sale leaseback of certain HA fermentation equipment.
May 22, 2023 | 9:03 pm
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Alcon provides $150M financing to Lifecore Biomedical, deepening their partnership and securing a long-term supply of hyaluronic acid.
By providing $150M in financing to Lifecore Biomedical, Alcon is deepening its partnership with the company and securing a long-term supply of hyaluronic acid for its commercial products. This strategic move is expected to have a positive impact on Alcon's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lifecore Biomedical secures $150M financing from Alcon, allowing it to repay outstanding term loans and expand its HA fermentation capacity.
The financing agreement with Alcon provides Lifecore Biomedical with the necessary funds to repay its outstanding term loans and expand its HA fermentation capacity. This expansion is expected to strengthen Lifecore's customer relationships and improve its opportunities for growth, positively impacting its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100