SEC Filings

PERNIX THERAPEUTICS HOLDINGS, INC. filed this Form 8-K on 02/27/2019
Entire Document


(i)       authorizing Pernix (the “Borrower”) to enter into that certain Senior Secured Superpriority Debtor-In-Possession Credit Agreement (as amended, supplemented or otherwise modified from time to time, the “DIP Credit Agreement”), the form of which is attached to the Motion as Exhibit B, among the Borrower, Cantor Fitzgerald Securities as administrative agent (in such capacity, the “DIP Agent”), and the lenders from time to time party thereto (the “DIP Lenders”), and for certain of the other Debtors3 (collectively, the “DIP Guarantors” and together with the Borrower, the “DIP Loan Parties”) to guaranty the obligations of the Borrower in connection with the DIP Facility pursuant to the Guarantee and Security Agreement (as defined below), and for the DIP Loan Parties to obtain a senior secured, priming superpriority multi-draw debtor-in-possession term loan facility (the “DIP Facility”), which shall consist of a superpriority priming term loan facility with an aggregate principal amount of up to $34.1 million, and such other financial accommodations, allocated as follows:


(a)Delayed Draw Loans. A delayed draw term loan facility in an aggregate principal amount of up to $20.0 million (the “Delayed Draw Commitments”) (which is inclusive of Incremental Commitments (as defined in the DIP Credit Agreement) of up to $5.0 million) with (i) $6.0 million of the Delayed Draw Commitments available to be funded in cash upon entry of this Interim Order; and (ii) the remaining $14.0 million of the Delayed Draw Commitments available following entry of the Final Order, subject in each case to the DIP Loan Parties’ satisfaction of applicable draw conditions pursuant to the terms of the DIP Loan Documents (as defined below); and


(b)Refinance of the Prepetition Revolving Debt. A superpriority term loan facility in the aggregate principal amount of $14.1 million to refinance the outstanding amount of the Prepetition Revolving Debt (as defined below).




3Pernix Ireland Limited (“PIL”), Pernix Ireland Pain Designated Activity Company (“PIP DAC”) and Pernix Manufacturing, LLC are not DIP Guarantors.