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Lifecore Biomedical Enters into $150M New Financing Deal

New credit arrangements include six-year credit agreement, equipment sale and leaseback to replace existing term loan.

Lifecore Biomedical, Inc., a fully integrated contract development and manufacturing organization (CDMO), has entered into a broad set of agreements with its long-term customer, Alcon, which provides for the repayment of the company’s existing credit agreement with its current lenders and substantially increases the amount of hyaluronic acid (HA) that Lifecore is expected to supply for use in Alcon’s commercial products. Under the terms of the lending and equipment sale and leaseback arrangem...

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