0001193125-26-227053
SEC filingNovanta Inc. entered into the Second Amendment to its Fourth Amended and Restated Credit Agreement, establishing $200.0 million in delayed draw term loan commitments available for borrowing until November 15, 2026.
The Second Amendment provides Novanta Inc. and its subsidiaries with flexible access to $200.0 million in delayed draw term loans, enhancing liquidity options through November 15, 2026, without immediate funding obligation. Interest margins tied to the Company's consolidated leverage ratio incentivize maintaining lower debt levels, with Base Rate spreads from 0.00% to 0.75% and benchmark rates plus 1.00% to 1.75%. Amortization begins modestly at 0.625% quarterly on U.S. dollar term loans post-September 2026, stepping up to 1.25% after June 2027, aligning repayment with expected cash flows. The reset of incremental capacity for term loans and revolvers from May 15, 2026, refreshes borrowing headroom under the June 27, 2025 Credit Agreement. Involving multiple borrowers across U.S., U.K., Germany, and Canada, with Bank of America as agent, this amendment was conditioned on standard closing deliverables including legal opinions, officer certificates, and KYC compliance, all satisfied as of effectiveness. Condition subsequent requires supplemental English law debentures by June 15, 2026, to maintain security interests.