Artivion Amends Agreements with Endospan
By Stephen Nakrosis
Artivion on Monday announced amendments to its credit facility and option purchase agreements with Endospan, the privately held developer of the Nexus Stent Graft System.
The agreements date from 2019, when Artivion provided a credit facility to Endospan and entered an option agreement to buy Endospan upon U.S. Food and Drug Administration approval of NEXUS.
Under the amended deal, Artivion will provide additional loans to Endospan of up to $25 million. In addition, the upfront payment associated with the purchase option is now $175 million, from the previous $250 million, inclusive of loan off-set, Artivion said. The new amendments also eliminate a $100 million minimum payout.
Pat Mackin, chairman, president and chief executive officer of Artivion, said based on experience with Nexus in Europe, the company sees significant global opportunity for Nexus technology.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 01, 2024 16:55 ET (20:55 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst