# EDGAR Filing Document

**Accession Number:** 0000724004
**File Stem:** 0001437749-25-027225
**Filing Date:** 2025-8
**Character Count:** 11117
**Document Hash:** bebed692cc4f239d718b2c2de4e1ac17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-027225.hdr.sgml**: 20250818

**ACCESSION NUMBER**: 0001437749-25-027225

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250812

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250818

**DATE AS OF CHANGE**: 20250818

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MESA LABORATORIES INC /CO/
- **CENTRAL INDEX KEY:** 0000724004
- **STANDARD INDUSTRIAL CLASSIFICATION:** INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 840872291
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-11740
- **FILM NUMBER:** 251227372

**BUSINESS ADDRESS:**
- **STREET 1:** 12100 W 6TH AVE
- **CITY:** LAKEWOOD
- **STATE:** CO
- **ZIP:** 80228
- **BUSINESS PHONE:** 3039878000

**MAIL ADDRESS:**
- **STREET 1:** 12100 W 6TH AVE
- **CITY:** LAKEWOOD
- **STATE:** CO
- **ZIP:** 80228

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MESA LABORATORIES INC /CO
- **DATE OF NAME CHANGE:** 19951117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MESA MEDICAL INC
- **DATE OF NAME CHANGE:** 19921123

?xml version='1.0' encoding='ASCII'? mlab20250728_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **<u>August 12, 2025</u>**

**MESA LABORATORIES, INC.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **<u>Colorado</u>**<br> (State or other jurisdiction of<br> incorporation) | **<u>0-11740</u>**<br> (Commission File Number) | 84-0872291 (I.R.S. Employer<br> Identification No.) |

---

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| | |
|:---|:---|
| **<u>12100 WEST SIXTH AVENUE,</u>** <br> **<u>LAKEWOOD, Colorado</u>**<br> (Address of principal executive offices) | **<u>80228</u>** <br> (Zip Code) |

---

Registrant's telephone number, including area code**: 303-987-8000**

**<u>Not Applicable</u>**

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered under Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which**<br> **registered** |
| Common Stock, no par value | MLAB | The Nasdaq Stock Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.**

On August 12, 2025, Mesa Laboratories, Inc. ("the "Company") drew $97 million under its existing Credit Facility. As of the date of this report, $108 million is outstanding under the Credit Facility.

The proceeds from the draw were used to fund the settlement of the Company's outstanding convertible notes that matured on August 15, 2025 in accordance with the terms of the indenture governing the notes.

The Credit Facility bears interest at either a base rate or a SOFR rate, plus an applicable spread. The Credit Facility matures on April 5, 2029.

The description of the Credit Facility in this Item 2.03 is qualified entirely by reference to the full text of the senior secured credit agreement, a copy of which was filed with the Company's Current Report on Form 8-K filed on April 8, 2024 and is incorporated by reference herein.

**ITEM 9.01 Financial Statements and Exhibits**

(d) Exhibits

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| | |
|:---|:---|
| 99.1 | [Press Release Dated August 18, 2025.](ex_854222.htm) |

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| DATE: August 18, 2025 |  | Mesa Laboratories, Inc. |
|  |  | (Registrant) |
|  | BY:  | /s/ Gary M. Owens  |
|  |  | Gary M. Owens |
|  |  | President and Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Mesa Laboratories Executes Previously-Announced Strategic Financing Plan**

Lakewood, CO — August 18, 2025

Mesa Laboratories, Inc. (NASDAQ: MLAB) (we, us, our, "Mesa" or the "Company") today announced that it has executed on its previously-announced financial strategy, repaying $97.5 million aggregate principal of the Company's 1.375% Convertible Senior Notes due August 2025 (the "2025 Notes"). On August 12, 2025, the Company drew $97.0 million under its existing Amended and Restated Credit Agreement (the "Credit Agreement"), bringing the total outstanding balance to $108 million. The proceeds from the draw were used to settle the 2025 Notes that matured on August 15, 2025.

<br> "This transaction reflects the disciplined execution of a plan we communicated in April, 2024," said John Sakys, Chief Financial Officer. "We've taken deliberate steps to optimize our capital structure using our Credit Facility, reducing potential dilution to our shareholders from the use of a hybrid debt instrument while supporting Mesa's long-term growth."<br>The interest rate on the Credit Facility, currently 7.18%, will decrease in line with future Federal Funds Rate reductions, along with an additional 25 basis point reduction triggered when Mesa's net leverage ratio falls below 3.0x which we expect to happen no later than the third quarter of this fiscal year. We expect interest payments for the second quarter of fiscal year 2026 to be approximately $2.7 million, and we expect to make interest payments of $3.1 million or lower in each quarter thereafter, at current outstanding debt levels.

Under the definition in our Credit Agreement, total net leverage ratio is defined as the ratio of total debt minus unrestricted cash in excess of $10 million as compared to 12 months trailing EBITDA. EBITDA, a non-GAAP metric, for purposes of this calculation, is defined as net income plus the sum of interest expense, income tax expense, depreciation, amortization, unusual or non-recurring non-cash charges and stock compensation expense. Our total net leverage ratio was 3.16 as of June 30, 2025.<br>Our strong cash flow profile is sufficient to service our outstanding debt. We made over $7 million in principal payments on our outstanding debt positions in the first quarter of fiscal year 2026 and we expect to make principal payments of approximately $20.0 million for quarters 2 through 4 of fiscal year 2026, with higher payments expected in fiscal year 2027.

------

The following table reflects the debt that is outstanding on our debt instruments following the transaction:

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| | | | |
|:---|:---|:---|:---|
| **Debt Instrument** | **Prior to Payment of 2025**<br> **Notes** | **Payment of Convertible**<br> **Notes** | **Debt Balances as of** <br> **August 15, 2025** |
| Revolver | $11000000 | $97000000 | $108000000 |
| Term Loan | 70312500 |  | 70312500 |
| 2025 Notes | 97500000 | (97500000) |  |
| Total Debt | $178812500 | $(500000) (A) | $178312500 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Reflective of payment made from Mesa's cash balance.

Mesa remains committed to prudent financial management and delivering value to shareholders through strategic execution and operational discipline.<br><u>About Mesa Laboratories, Inc.</u>

Mesa is a global leader in the design and manufacture of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare and medical device industries. Mesa offers products and services to help its customers ensure product integrity, increase patient and worker safety, and improve the quality of life throughout the world.

<u>Forward Looking Statements</u>

This press release may contain information that constitutes forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. Forward-looking statements include statements relating to the use of proceeds from the Term Loan and the Revolver, the closing of the 2025 Note repurchase, the source of funds to pay amounts due upon maturity of the remaining 2025 Notes, and the Company's future Net Leverage Ratio. Generally, the words "expect," "anticipate," "seek," "intend," "plan," "believe," "could," "estimate," "may," "target," "project," and similar expressions identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. These statements are based upon current information and expectations. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties. For additional information concerning these and other risks and uncertainties that could affect these statements, and our business, see our Annual Report on Form 10-K for the year ended March 31, 2025, as well as other risks and uncertainties detailed from time to time in our reports on Forms 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof, to provide any updates, or to reflect the occurrence of future events.

CONTACT: Gary Owens; President and CEO, or John Sakys; CFO, both of Mesa Laboratories, Inc., +1-303-987-8000

For more information about the Company, please visit its website at <u>www.mesalabs.com</u>