Company: NEOG
Filing Date: 2025-07-30
Form Type: 10-K
Source: 0000950170-25-100064
Chunk: 53

Company: NEOGEN CORP
Filing Date: 2025-07-30
Form: 10-K
Item: Item 6
Chunk 53
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 above includes adjustments primarily for amortization charges for acquired intangible assets and certain acquisition-related expenses for legal and professional fees. 9.      Long-Term Debt The Company’s long-term debt consists of the following:  

         May 31, 2025

         May 31, 2024

         Term Loan
          
         $
         450,000

         $
         550,000

         Senior Notes

         350,000

         350,000

         Revolver Facility

         100,000

         —

         Finance Lease

         2,426

         —

         Total debt and finance lease

         902,426

         900,000

         Less: Current portion

         (19,301
         )

         —

         Total non-current debt

         883,125

         900,000

         Less: Unamortized debt issuance costs

         (8,315
         )

         (11,609
         )

         Total non-current debt, net
          
         $
         874,810

         $
         888,391

       Credit Facilities On June 30, 2022, Neogen Food Safety Corporation entered into a credit agreement consisting of a five-year senior secured term loan facility (“term loan facility”) in the amount of $650,000 and a five-year senior secured revolving facility (“revolving facility”) in the amount of $150,000 to fund the FSD transaction. In fiscal year 2023, the Company made $100,000 in prepayments on the term loan facility. On April 4, 2025, Neogen Food Safety Corporation entered into the Amendment No. 1 and Refinancing Amendment to Credit Agreement (the “Refinancing Amendment”), which amended the existing credit agreement, dated June 30, 2022. The Refinancing Amendment, among other things, provides for (i) a new tranche of senior secured term loans in an aggregate principal amount of $450,000 (the “2025 Term Loans”) and (ii) a revolving credit facility in an aggregate principal amount of $250,000 (collectively, the “Credit Facilities”), against which $100,000 has been drawn (the “2025 Revolving Facility”). The 2025 Term Loans will mature on April 4, 2030. The 2025 Revolving Facility will terminate on the earlier of April 4, 2030, or the date on which