Company: MYGN
Filing Date: 2025-07-31
Form Type: 8-K
Source: 0000899923-25-000072
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Company: MYRIAD GENETICS INC
Filing Date: 2025-07-31
Form: 8-K
Item: Item 1.01
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ITEM 1.01 Entry into a Material Definitive Agreement.

On July 31, 2025 (the “ Closing Date”), Myriad Genetics, Inc. (the “ Company”) entered into a Credit Agreement (the “ Credit Agreement”) with the lenders from time to time party thereto (“ Lenders”), and OrbiMed Royalty & Credit Opportunities IV, LP, as administrative agent (in such capacity, “ Administrative Agent”) and as initial lender, consisting of a $200 million term loan credit facility with an initial term loan (the “ Initial Loan”) in a maximum principal amount of $125 million, 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 million (the “ Credit Facility”). 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, including, without limitation, refinancing existing indebtedness.

The Credit Facility matures on July 31, 2030 (the “ Maturity Date”). Loans outstanding under the Credit Facility will bear interest at a rate per annum equal to (x) the greater of the one-month SOFR Rate and 2.50% plus (y) an applicable margin of 6.50%. Commencing on September 30, 2029, and on the last business day of each fiscal quarter thereafter, the Company is required to make a scheduled principal payment equal to 2.50% of the unpaid principal amount of the loans outstanding on the fourth anniversary of the Closing Date, together with any applicable exit fee and repayment premium.

The Company may elect to prepay all or any portion of the amounts owed prior to the Maturity Date subject to a repayment premium. The Credit Facility is also subject to customary mandatory prepayments with the proceeds of indebtedness and certain asset sales and casualty events. In addition to the repayment premium referenced above, voluntary and mandatory prepayments and all other payments of the Credit Facility must also be accompanied by payment of accrued interest on the principal amount repaid or prepaid. The Credit Facility is also subject to other customary fee arrangements.

The obligations of the Company are guaranteed by certain of the Company’s material subsidiaries (the “ Guarantors”) pursuant to a Guarantee. The obligations of the Company and the Guarantors under the Credit Agreement and Guarantee are secured