Company: MYGN
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0000899923-25-000112
Chunk: 28

Company: MYRIAD GENETICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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$7.9 $10.5 $26.7 $31.9 

6.ACCRUED LIABILITIES

The Company's accrued liabilities at September 30, 2025 and December 31, 2024 were as follows:(in millions)September 30,2025December 31,2024Employee compensation and benefits$47.3 $57.4 Accrued taxes payable5.1 5.1 Refunds payable and reserves18.5 19.9 Accrued royalties5.6 6.5 Escrow liability7.5 7.5 Other accrued liabilities24.3 22.6 Total accrued liabilities$108.3 $119.0 

7.LONG-TERM DEBT

The Company's long-term debt at September 30, 2025 consisted of the following amounts:(in millions)September 30, 2025Long-term debt$125.0 Accrued exit fee3.8 Unamortized debt discount and issuance costs(9.3)Total Long-term debt, net119.5 On July 31, 2025 (the "Closing Date"), the Company entered into a Credit Agreement (the "Credit Agreement") with the lenders from time to time party thereto, and OrbiMed Royalty & Credit Opportunities IV, LP., as administrative agent (the "Administrative Agent") and as initial lender. The Credit Agreement consists of a $200.0 million term loan credit facility with an initial term loan of $125.0 million (the "Initial Loan"), which amount was funded on the Closing Date, and delayed draw term loans (the "Delayed Draw Loans" and together with the Initial Loan, the "Loans"), at the election of the Company on or prior to June 30, 2027, in a maximum principal amount of $75.0 million (the "Credit Facility"). The Company incurred debt discounts and issuance costs totaling $9.4 million. These costs are being amortized using the effective interest method. 

13

The proceeds of the Credit Facility were or will be used for the working capital needs and general corporate purposes of the Company and its subsidiaries. Concurrent with the new Credit Facility, the Company used $60.2 million of the proceeds to repay its previous debt facility, an asset-based revolving credit facility (the “ABL Facility”), in full and terminated the ABL Facility agreement. The Credit Facility matures